2017 - 2018 Administrative Policy Manual Published February 1, 2018 
    
    Nov 18, 2018  
2017 - 2018 Administrative Policy Manual Published February 1, 2018 [ARCHIVED COPY]

Section 7 - Finance and Business



7.1 General Policy

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.1.

7.1.1 Allocation of Funds

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.1.1.

7.1.2 Accounting and Reporting

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.1.2.

7.1.2.1 Procedures

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.1.2.1.

7.1.2.2 Deficits

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.1.2.2.

7.1.2.3 Financial Aid Report

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.1.2.3.

 

7.2 USG Budget

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.

7.2.1 Educational and General Revenues and Expenditures

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.

7.2.1.1 Instruction

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.1.

7.2.1.2 Research

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.2.

7.2.1.3 Public Service

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.3.

7.2.1.4 Academic Support

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.4.

7.2.1.5 Student Services

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.5.

7.2.1.6 Institutional Support

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.6.

7.2.1.7 Plant Operations and Management

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.7.

7.2.1.8 Scholarship and Fellowships

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.1.8.

7.2.2 Auxiliary Enterprises Revenues and Expenditures

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.2.

7.2.3 Operating Budgets

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.3.

7.2.4 Budget Amendments

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.4.

7.2.5 Liability for Expenditure of Budgets

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.2.5.

 

7.3 Tuition and Fees

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.

7.3.1 Tuition

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.1.

7.3.1.1 Definitions

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.1.1.

7.3.1.2 The Guaranteed Tuition Plan

Reviewed May 26, 2016

See Board of Regents Policy Manual 7.3.1.2

7.3.1.3 Continuing Tuition Rate

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.1.3.

7.3.1.4 Graduate Tuition

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.1.4.

7.3.1.5 Professional Program Tuition

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.1.5.

7.3.1.6 Tuition for Distance Learning Courses and Programs

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.1.6.

7.3.2 Student Fees and Special Charges

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.2.

7.3.2.1 Mandatory Student Fees

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.2.1.

7.3.2.2 Elective Fees and Special Charges

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.2.2.

7.3.3 Tuition and Fee Payment and Deferral

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.3.

7.3.4 Out-Of-State Tuition Waivers and Waiver of Mandatory Fees

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.4.

7.3.4.1 Out-Of-State Tuition Waivers

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.4.1.

7.3.4.2 Waiver of Mandatory Fees

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.4.2.

7.3.4.3 Waiver of Mandatory Fees for U.S. Military Reserves And Georgia National Guard Combat Veterans

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.4.3.

7.3.4.4 Partial Waiver of Mandatory Fees

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.4.4.

7.3.5 Refunds

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.5.

7.3.5.1 Students Withdrawing from an Institution

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.5.1

7.3.5.2 Death of A Student

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.5.2.

7.3.5.3 Military Service Refunds

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.3.5.3.

 

7.4 Private Donations to The USG And Its Institutions

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.4.

7.4.1 Naming of Places, Colleges or Schools

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.4.1.

As provided by Board of Regents policy 7.4.1, Georgia Gwinnett College maintains the following guidelines.

Procedures

The Georgia Gwinnett College Naming Committee consists of the President, Senior Vice President for Academic and Student Affairs/Provost, Vice President for Advancement, the Associate Vice President for Development, and a member of the Georgia Gwinnett College Foundation’s Board of Trustees. The Committee meets on an as-needed basis and approves all financial commitments for naming opportunities. With the Naming Committee’s approval, the President of Georgia Gwinnett College will submit naming requests to the Board of Regents.

For interior spaces and other naming opportunities not covered by the Board of Regents policies, the Naming Committee, through the President, will notify the Board of Regents, in a timely fashion, of any naming decisions.

Periodic Review of Naming Guidelines

The Naming Committee will review these guidelines on a regular and recurring schedule in order to ensure that the college continues to be in compliance with the campus Master Plan and the policies of the Board of Regents.

 

7.5 Fund Management

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.

7.5.1 Banking

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.1.

7.5.1.1 Required Electronic Transfer of Funds

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.1.1.

7.5.2 Investments

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.2.

7.5.2.1 General

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.2.1.

This policy is intended to ensure Georgia Gwinnett College is acknowledging its responsibility as a fiduciary, and acting prudently when investing dollars of a public institution. The provisions of this policy apply to all Georgia Gwinnett College organizations and programs.

The President has overall responsibility for implementing Fiscal Policies. The President has delegated responsibility to the Vice President for Business and Finance for providing overall guidance and direction for implementing and managing the Georgia Gwinnett College’s Fiscal Policies and ensuring proper controls are in place.

7.5.2.2 Investment Objectives

Reviewed May 26, 2016

See the Board of Regents Business Procedures Manual Section 7.5.2.2.

7.5.2.3 Investment Type

Reviewed May 26, 2016

See the Board of Regents Business Procedures Manual Section 7.5.2.3.

7.5.2.4 Asset Allocation

Reviewed May 26, 2016

See the Board of Regents Business Procedures Manual Section 7.5.2.4.

7.5.2.5 Diversification

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.2.5.

To gain maximum diversification of the College’s funds to include auxiliary and student activity fee revenues, the College has chosen to invest in the Short Term investment fund. The Short Term Investment fund provides a current return and stability of principal while affording a means of overnight liquidity for projected cash needs. The investment maturities in this fund will range between daily and two (2) years.

7.5.2.6 Spending Policy

Reviewed May 26, 2016

The spending policy is in compliance with BOR policy as outlined in the Board of Regents Business Procedures Manual Section 7.5.2.6, Recording of Interest Earned on Bank Accounts.

7.5.2.7 Collateralization

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.2.7.

The investment policy should provide for appropriate collateralization of invested funds, which, by law, require the pledge of collateral.

7.5.2.8 Management, Reporting, and Monitoring

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.2.8.

The investment manager shall prepare investment performance results on a quarterly basis.

7.5.2.9 Use of Investment Managers

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.2.9.

Criteria to be used in the selection of investment managers and the evaluation of their performance should be described if the institution chooses to use outside investment managers. These criteria should address the investment manager’s:

  1. Professional background and experience;
  2. Investment philosophy relative to the institution’s stated investment objectives;
  3. Organizational structure and overall product line;
  4. Control with respect to ensuring that individual managers adhere to policy objectives and guidelines;
  5. Total size of managed assets;
  6. Record of performance measured against appropriate benchmarks; and,
  7. Ability to communicate results effectively and in timely fashion.

7.5.3 Loan Funds for Matching Purposes

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.3.

7.5.4 Sale of Securities

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.4.

7.5.5 Georgia Eminent Scholars Endowment Trust Fund

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.5.5.

 

7.6 Travel

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.6.

 

7.7 Purchasing

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.7.

7.7.1 General Policy

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.7.1.

7.7.2 Employee Purchasing

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.7.2.

7.7.2.1 Purchasing Policy

Reviewed May 26, 2016

Note: Detailed purchasing policies and procedures are located on My.GGC on the on the Faculty/Staff - Procurement Services tab. This purchasing policy reflects all the policies in that manual without including procedures and other information.

1: Overview

By order of the Board of Regents, all units of the University System of Georgia must comply with the rules and regulations of the State Purchasing Division of the Department of Administrative Services (DOAS). These rules and regulations have been developed to promote equal access and competition among vendors to ensure that best value, high-quality goods and services are available to state and local governments. The DOAS Georgia Procurement Manual is located at this website.

Purchasing is the official purchasing agent for Georgia Gwinnett College. It is responsible for issuing orders for materials and services in compliance with State and Federal laws under the guidelines imposed by the Department of Administrative Services State Purchasing Division, The Georgia Technology Authority and the Board of Regents of the University System of Georgia.

2: Purchasing Methods and Procedures

2.1 GGC Purchasing Delegated Purchasing Authority

Georgia Gwinnett College has a Delegated Purchasing Authority (DPA) of $1,000,000 on Requests for Proposals and an unlimited dollar amount on Request for Quotes. All procurements above GGC’s DPA are required to be submitted through the State of Georgia Department of Administrative Services (DOAS).

2.2 Procurement by Purchase Order

Procurement by Purchase Order is initiated by the GGC Department in PeopleSoft eProcurement/GeorgiaFirst module or by completing the Request for Supplies and Services (Requisition). The Request for Supplies and Services form provides the required information to allow Purchasing to determine how to procure the supplies or services requested. It captures critical information such as department, type of purchase, account numbers to be charged, specific item information, recommended vendor, and estimated cost.

There are situations where corrections must be made to a previously issued purchase order. Generally, the purchase order must be corrected when:

  • Price increases or decreases by more than $500.00 per line item
  • A Purchase Order must be cancelled
  • Items are added or deleted
  • Required to resolve significant differences between orders and invoices

2.3 Completing a Request for Supplies and Services (Requisition)

The Request for Supplies and Services is the manual method by which a department’s requirements are requested and funds encumbered for that particular requirement.

The Georgia Gwinnett College Excel Requisition form can be obtained from Purchasing.

The Request for Supplies and Services is not an official authorization to purchase. Purchasing must competitively bid the requirement, if necessary, and issue an official Georgia Gwinnett College Purchase Order.

2.4 Competitive Procurements

Request for Supplies and Services Over $25,000 - These items must be competitively bid and complete specifications attached. There are two basic forms of competitive procurement, Request for Quote (RFQ) and Request for Proposal (RFP). For all bids above $25,000 the State of Georgia Department of Administrative Services (DOAS) requires posting to the Georgia Procurement Registry.

Request for Quotation (RFQ)

A Request for Quotation (RFQ) is a formal solicitation method that includes a well-defined specification or scope of work and contains all contractual terms and conditions. The RFQ solicits sealed price quotations or bids from prospective vendors and seeks to obtain price quotes from qualified vendors using the lowest quote as the determining factor for awarding the contract. Request for Quotes should be used if the project lends itself to the creation of a clear and accurate Statement of Work and the objective of the solicitation is to identify a vendor who can provide the required specifications at the lowest possible cost.

Request for Proposal (RFP)

A Request for Proposal (RFP) is a formal solicitation method that seeks to leverage the creativity and knowledge of business organizations to solve a unique problem. The RFP solicits sealed price proposals from prospective vendors and seeks to obtain the “best value” for the state. The RFP method does not use the cost of the project as the single determining factor, but, rather, uses a combination of lowest cost plus best proposed solution to determine the award. Points are provided to technical and financial proposals submitted. Contract awards are based on the highest points received by submitted proposals. Committees are established to score the technical portion of the RFP. Logistical Services will score the financial portion of the RFP. Request For Proposals should be used if the project does not lend itself to the creation of a clear and accurate Statement of Work and the objective of the solicitation is to identify a vendor who can offer the best possible solution to your problem at the most reasonable cost.

2.5 Procurement by Emergency Purchase Order

An emergency is when academic, research, plant or technical personnel are idled or unable to perform duties in the required time due to lack of materials or services. It should be noted that poor planning is not considered an emergency.

2.6 Office Supplies from the statewide contract using the Purchasing Card

Office supplies should be ordered from the current statewide contract. The department Purchasing Card should be used for all supply orders.

2.7 Procurement by Purchasing Card

The Georgia Gwinnett College Purchasing Card Program provides an optional purchasing procedure regarding transactions for goods and services valued at $2499.99 or less, including shipping/handling charges, insurance, etc. Purchases over this limit should continue to be processed in accordance with established purchasing procedures. Taxes cannot be charged to your Visa Purchasing Card. No personal purchases may be made through the use of this card. The name of the person listed on the card shall be and is the only authorized user.

Please Note: Guidelines and policies established by the Board of Regents and the Georgia Department of Administrative Services (DOAS) as well as the provisions of O.C.G.A. § 45-10-1 et.seq. (State Employee Code of Ethics, Conflicts of Interest, etc.) are mandatory.

The DOAS Policy Manual may be reviewed at this website.

A Budget Manager and or designated employee may make application for participation in this program by completing a purchasing card application and agreement form. The card will be issued in the name of the College with your name listed as the user. The Budget Manager/employee supervisor is responsible for any and all charges including unauthorized, personal, and inappropriate purchases made through the use of the card by designated person(s) in their department.

The Budget Manager and or employee supervisor is responsible for seeing that the purchasing card will be used to purchase supplies and materials from the appropriate account codes as defined in the Chart of Accounts.

The card may not be used to purchase any of the following:

  • Maintenance or other service agreements
  • Entertainment or alcoholic beverages.
  • Food or beverage of any kind for any individual or group (including students, faculty, staff, and any person or group unaffiliated with Georgia Gwinnett College). An exception is food items being procured for lab and classroom instruction. These should be purchased by the designated departmental P-card holder.
  • Equipment that costs over $3000
  • Hazardous or radioactive material
  • Services or items provided by in-house departments such as Plant Operations, Print Shop, Administrative Computing, etc.
  • Travel or travel related items.
  • Personal-use items such as radios, coffee pots, gifts, microwave ovens etc.
  • Postage stamps
  • Firearms or explosives
  • Services involving an employer/employee relationship
  • Items subject to Library Control
  • Holiday decorations and cards
  • Plants or cut flowers
  • Typing Services
  • Rental of equipment for periods exceeding 30 days
  • Gift Cards

For more detailed procedures refer to the Georgia Gwinnett College Visa Purchasing Card Application located on my.GGC on the Faculty/Staff Resource/Docs - Logistics Tab. https://ggc.blackboard.com/bbcswebdav/xid-2747_4 (Faculty/Staff - Resources/Docs - Logistics: GGC P-Card Agreement 2.9.09).

2.8 Purchases Made Under Research Grants and Agreements

All purchases under contracts, grants, or agreements are subject to State of Georgia and Federal Purchasing Regulations, to Board of Regents of the University System of Georgia policies, and to Georgia Gwinnett College policies.

Expenditures for obligations incurred under contracts, grants, or agreements cannot be made for purposes other than those for which State funds can be expended, unless an exceptional type of expenditure is specifically authorized and stated by the donor or grantor as a requirement of the grant, contract or agreement.

2.9 Unauthorized Purchases

Unauthorized purchases are improper and illegal, and the purchaser or the department may be held responsible for the incurred charges.

Examples of unauthorized purchases include, but are not limited to, any purchase over $5,000 to $25,000, purchases of restricted items of any price (e.g. food or personal items), purchases requiring pre-approvals without such approvals, and sequential, repetitive purchases made in an attempt to avoid the $5,000 bid limit.

2.10 Order of Precedence

The State through the Department of Administrative Services maintains an order of precedence for the source used for the purchasing of items and services. The Order of Precedence is shown in the Georgia Procurement Manual as follows:

Tier 1 - Mandatory Statewide Contracts

Tier 2 - Existing State Entity Contracts

Tier 3 - Statutory Sources of Supply Designated as Mandatory from Georgia Correctional Industries or Georgia Enterprises for Products and Services.

Tier 4 - Choice of, among others, Convenience Statewide Contracts or Open Market Purchases

2.11 Minority Suppliers

State Policy encourages the use of Minority and Small Business suppliers whenever possible.

2.12 Service Maintenance Agreements

Each department is responsible for requesting maintenance agreements for its equipment. Requests should be forwarded to Purchasing at least sixty - (60) days prior to expiration of the current maintenance agreement.

Maintenance agreements at Georgia Gwinnett College run for a one-year period. Maintenance agreements are not automatically renewable.

2.13 Vehicle Purchases

College vehicles must be purchased from State Contracts and require pre-approval by the Board of Regents, OPB, and DOAS Fleet Management. Contact the APO and or buyer for details on the most current contracts and regulations.

2.14 Furniture Purchase

Departments should utilize existing State contracts for the purchase of furniture. Contracts can be accessed at this website.

2.15 Signature Requirements

All documents that require signature must be reviewed in advance of being signed. Only authorized signatories may sign. The signing of un-reviewed documents or the signing of any documents by an unauthorized person could make that individual personally liable for the obligations created.

3: Central Receiving and Warehouse

See procedures in Georgia Gwinnett College’s Logistical Services Policies and Procedures - Faculty/Staff - Resource/Docs.

4: Asset Management and Surplus Property Management

Equipment is defined in the University System of Georgia’s Business Procedures Manual as:

“Fixed or movable tangible assets to be used for operations, the benefits of which extend beyond one year from date of acquisition and rendered into service. Only equipment having a value of $5,000 or greater shall be capitalized. Equipment having a value of $3,000 to $4,999 shall be expensed, but not capitalized, and tracked in an inventory system.”

The requirement of tracking all equipment having a value of $3,000 or greater is mandated by Official Georgia Code.

Responsibility of All State Employees - Georgia laws pertaining to the disposition of state surplus property can be found in the Official Code of Georgia Annotated, Title 50, Chapter 5, Article 4, Sections 140 - 146. Violations of this code bring serious penalties. Any official, officer or employee of the state who disposes of state property having a value of less than $200.00 in violation of Code Section 50-5-141 or 50-5-142 shall be guilty of a misdemeanor. If such property has a value of $200.00 or more, he/she is guilty of a felony and upon conviction, will be punished by imprisonment for not less than one year, or more than five years.

Property Control will conduct an actual physical inventory of all equipment annually. Departmental Budget Managers are expected to maintain the integrity of their departmental inventory. The State Auditor will also conduct random checks of departmental inventory to insure compliance with state law.

5: Risk Management

5.1 Insurance on College Owned Property

Georgia Gwinnett College property is covered by insurance under the following circumstances:

  • A dollar value greater than $1,000 (The deductible is $1,500.00 per occurrence)
  • Inventoried through Georgia Gwinnett College Asset Management
  • Stored in a locked room or protected by a lock-down device - for insurance coverage, there must be proof of forced entry into the room where stored, or the lock down device must have been broken or tampered with, and an official campus police report must be provided

Note: PERSONAL PROPERTY-property that is brought onto the college premises is not covered under the State of Georgia Insurance Policy.

5.2 Reporting Property Loss

When a property loss occurs, contact Protective Services at (678) 407-5011 and the Risk Manager at (678) 407-5869

5.3 Replacing Lost Property and Filing a Claim

See Georgia Gwinnett College’s Logistical Services Policies and Procedures - Faculty/Staff - Resource/Docs

5.4 Reporting of Accidents

See Georgia Gwinnett College’s Logistical Services Policies and Procedures- Faculty/Staff - Resource/Docs

7.7.2.2 Purchasing Card Program

Reviewed May 26, 2016

Georgia Gwinnett College has a detailed Purchasing Card Program, detailed in Georgia Gwinnett College Purchasing Card Program. Section 7.7.2.1 above summarizes these policies as well. Additionally, the following policies, also found in the Georgia Gwinnett College Purchasing Card Program, are published here:

  1. No single purchase shall exceed $2499.99. Orders over $2,499.00 will need to be processed on a Georgia Gwinnett College Purchase Order and may require competitive bidding. Orders greater than $5,000.00 must be competitively bid in accordance with DOAS procurement policies and handled via Purchase Order.
  2. Card misuse, including unauthorized/illegal purchases will be returned for credit or paid for in full by personal check made payable to Georgia Gwinnett College from the cardholder. Failure to reimburse the College will result in funds being deducted from the cardholder paycheck. Continued unauthorized/illegal purchases may result in revocation of purchasing card and/or employee termination. Inadvertent misuse is a violation of law and should be reported to Purchasing immediately. Inadvertent misuse will require immediate reimbursement from employee funds.
  3. Fraudulent uses of the Georgia Gwinnett College Visa Purchasing Card will result in immediate termination of employment. Legal actions may be taken against the employee as a result of the fraudulent use of the Visa Purchasing Card.

Note: The State of Georgia requires receipts for all purchases. The receipt must clearly identify the items purchased. In cases where the receipt does not clearly identify procured items, cardholders must provide written explanation of the items and there intended business use.

 

7.8 Insurance

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.8

7.8.1 Property Insurance

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.8.1.

7.8.2 Liability Insurance

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.8.2.

7.8.2.1 Automotive

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.8.2.1.

7.8.2.2 Professional Liability

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.8.2.2.

7.8.3 Fidelity Bond

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.8.3.

 

7.9 Contracts

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.9.

7.9.1 Contracting Authority

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.9.1.

7.9.2 Construction Contracts

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.9.2.

7.9.3 Contracts with Veterans Administration

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.9.3.

 

7.10 Auditing

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.10.

7.10.1 State Audits

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.10.1.

7.10.2 Internal Audits

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.10.2.

 

7.11 Miscellaneous

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.

7.11.1 Sales of Institutional Products

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.1.

7.11.2 Business Enterprises

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.2.

7.11.3 Use of Institution Names

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.3.

7.11.4 Motor Vehicles

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.4.

7.11.4.1 Passenger Automobiles

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.4.1.

7.11.4.2 Institution-Owned Buses

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.4.2.

7.11.5 Farming Operations

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.5.

7.11.7 Student Housing

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.7. See also Student Handbook: Rights, Responsibilities, and General Information Appendix 1: GGC Community Guide: Housing Policies and Procedures.

7.11.7.1 Comprehensive Plans

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.7.1.

Georgia Gwinnett College has developed a student housing comprehensive plan that addresses all facets of the creation, expansion, and operation of the student housing facilities.

7.11.7.2 Financial Statements

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.7.2.

7.11.8 Trademarks

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.8.

7.11.9 Home or Off-Campus USG of Equipment for Business Purposes

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.11.9.

 

7.12 Reserved by Board of Regents

Reviewed May 26, 2016

Regulations on information security will be published and distributed periodically to the various operating units in Section 12.0, Protection and Security of Records, of the Business Procedures Manual.

See Board of Regents Policy Manual Section 7.12.

 

7.13 Board of Regents’ Retiree Health Benefit Fund Investment Policy

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.13.

7.13.1 Purpose

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.13.1.

7.13.2 General Objectives

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.13.2.

7.13.3 Responsibilities

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.13.3.

7.13.4 Monitoring of Objectives

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.13.4.

7.13.5 Short-Term Investment Portfolio

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.13.5.

7.13.6 Long-Term Investment Portfolio

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.13.6.

 

7.14 Identity Theft

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.14.

 

7.15 Risk Management Policy

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.

7.15.1 Risk

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.1.

7.15.2 Purpose

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.2.

7.15.3 General Objectives

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.3.

7.15.4 Applicability

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.4.

7.15.5 Implementation

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.5.

7.15.5.1 Frameworks and Procedures

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.5.1.

7.15.5.2 Risk Management Methodology

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.5.2.

7.15.5.3 Oversight

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.5.3.

7.15.5.4 Accountability

Reviewed May 26, 2016

See Board of Regents Policy Manual Section 7.15.5.4.

 

7.16 Compliance Policy

Reviewed May 26, 2016

Note: This policy will be developed in AY 2013-14

See Board of Regents Policy Manual Section 7.16

 

7.50 Financial Management

Reviewed May 26, 2016

 

7.51 Fiscal Misconduct

Reviewed May 26, 2016

Section 1 - General

1-1. Purpose

This policy is intended to reinforce fiscal accountability and promote ethical practices. The provisions of this policy apply to all Georgia Gwinnett College organizations and programs. Georgia Gwinnett College is committed to maintaining the highest professional standards in its administrative operations, promoting ethical practices among its faculty and staff, and ensuring a level of accountability appropriate for a public institution. This policy and related procedures for the reporting, investigation, and resolution of fiscal irregularities are established as an integral part of the College’s efforts to ensure that faculty and staff conduct themselves in accordance with high ethical standards and that university performance with respect to these matters is consistently applied.

1-2. Definition

This policy applies to administrators, faculty and staff who know or suspect that other employees are engaged in theft, embezzlement, fiscal misconduct, or violation of College financial policies. Fiscal irregularities are violations of law and/or Board of Regents or College financial policies and procedures.

1-3. Policy

Fiscal irregularities and related misconduct will not be tolerated. Employees found to have participated in fraudulent fiscal acts and/or gross misconduct will be subject to disciplinary action, up to and including termination, pursuant to personnel policies and rules, or subject to criminal prosecution if in violation of Georgia or federal laws.

Section 2 - Responsibilities

2-1. President

The President has overall responsibility for implementing Fiscal Policies. The President has delegated responsibility to the Vice President for Business and Finance for providing overall guidance and direction for implementing and managing the Georgia Gwinnett College’s Fiscal Policies and ensuring proper controls are in place.

2-2. Vice-President for Business and Finance

The Vice President of Business and Finance will:

  1. Provide overall guidance and direction for implementing the Georgia Gwinnett College’s fiscal policies.
  2. Formulate policy for implementing and managing fiscal policy to ensure fraud, waste and abuse do not occur.
  3. Provide guidance and technical assistance to employees who report a case of fiscal misconduct.

2-3. Management

Administrators and all levels of management are responsible for preventing and detecting instances of fiscal misconduct. In addition, administrators are expected to recognize risks and exposures inherent in their area of responsibility and to be aware of indications of fiscal fraud and related misconduct. In order to establish and maintain proper internal controls that provide security and accountability for the resources, administrators should ensure that they and their staff receive adequate fiscal management training for their level of responsibility.

Section 3 -Policy and Requirements

3-1. Policy

Fiscal irregularities and related misconduct will not be tolerated. Employees found to have participated in fraudulent fiscal acts and/or gross misconduct will be subject to disciplinary action, up to and including termination, pursuant to personnel policies and rules, or subject to criminal prosecution if in violation of Georgia or federal laws.

3-2. Reporting Suspected Fiscal Misconduct

What Should You Do If You Suspect Fiscal Misconduct

  • DO NOT confront the suspect.
  • DO NOT investigate the case yourself.

Management and staff should not confront the individual under suspicion or initiate in-depth investigations on their own; as such actions could compromise any ensuing investigation. However, a preliminary investigation may be performed to evaluate the circumstances and identify any unmerited or frivolous claims. All employees are to cooperate fully with those performing an investigation pursuant to this policy. Suspected instances of fiscal misconduct may be anonymously reported on the GGC Ethics and Compliance Reporting Hotline or the USG website. Administrators, faculty and staff who know or suspect that other employees are engaged in theft, fraud, embezzlement, fiscal misconduct or violation of College and/or Board Of Regents financial policies are encouraged to report it to their supervisor (unless otherwise indicated or circumstances make it inappropriate, employees should report wrongdoing through their supervisory chains), the Controller’s Office and/or the Ethics and Compliance Hotline.

Controller
Georgia Gwinnett College
Building B
Lawrenceville, GA 30043
(678) 407-5726

3-2. Investigative Procedures

When a suspected fiscal irregularity is reported to the Controller’s Office, the Vice President for Business and Finance, Internal Audit and the responsible Vice President will be advised. For informational purposes, Human Resources, Public Safety, and Legal Affairs should also be apprised. While the investigation is pending, it will be the responsibility of the responsible administrators, after consultation with the appropriate College officials (Human Resources, Office of Legal Affairs, and/or others as deemed necessary), to determine if it is necessary to take immediate personnel and administrative action to protect College faculty, staff, students, and property. Incidents involving suspected criminal malfeasance by an employee must be reported to the USG Chief Audit Officer once an initial determination has been made that employee malfeasance may have occurred.

3-3. Final Resolution

Once the audit or investigation is complete and circumstances surrounding the irregularity or impropriety have been determined, responsibility shall be assigned for taking appropriate personnel and operating actions to minimize the likelihood of recurrence. Results of the audit or investigation should be distributed to the Controller, Vice President for Business and Finance, Office of Legal Affairs and responsible Vice President. The BOR will be notified if major risks were identified during the investigation.

If legal issues are involved, the Offices of Legal Affairs and/or Director of Human Resources should work jointly with the investigating team to determine the appropriate action to be taken. All corrective action recommendations for final resolution should have the approval of the President.

 

7.53 Petty Cash

Reviewed May 26, 2016

The Georgia Gwinnett College Purchasing Card should be used when available in place of petty cash. It is permissible to expend personal funds for official “small purchases” and to obtain reimbursement from the Student Accounts Office, providing prior approval of the appropriate department budget manager is obtained. This type of purchase is known as “Petty Cash” and is limited to $100.00 per purchase.

Sales tax charged on petty cash purchases should not be paid by the purchaser. If, however, a petty cash purchase cannot be made without payment of sales tax, reimbursement of the sales tax will be made by the Student Accounts Office. Tax Exemption Certificates may be obtained from the Logistical Services Department.

Petty Cash Reimbursement - To obtain reimbursement, an employee must submit a receipt and/or an original vendor’s invoice marked “PAID.” A “Petty Cash Disbursement Form” (available on the employee intranet) must be completed and signed by the Department Budget Manager. The following requirements should be met with the receipt as in the form of a vendor’s invoice:

  1. The receipt must be an original (the second copy of a multi-part form is acceptable), not a copy reproduced on a copier.
  2. The receipts should be marked “paid” and carry the signature of the vendor’s representative and the name of the vendor. It should also show that the items purchased were sold to Georgia Gwinnett College or an individual employee of Georgia Gwinnett College. It should be a formal receipt, not merely a slip or blank paper on which the information has been written. If this requirement cannot be met, consult with the Bursar.
  3. The receipt should also show the date of purchase, quantity, description, unit price, and extension of each item purchased. Such broad descriptions as “instructional materials” are not acceptable.
  4. In those instances where only a cash register receipt is available from the vendor, the cash register receipt may be submitted for reimbursement provided the vendor’s name is either preprinted on the receipt or the vendor’s name is written on the back of the receipt and signed by a representative (not initialed) of the vendor. The cash register receipt must be accompanied by a complete “Petty Cash Disbursement Form,” and the receipt must contain a detailed list of items purchased. Again, such terms as “instructional materials” are not acceptable.

Cash purchases are subject to Georgia Gwinnett College, State of Georgia, and Board of Regents purchasing regulations. If you have any questions or concerns about a petty cash transaction, please contact the Logistical Services office prior to making your purchase.

The following items may not be purchased via petty cash:

  1. Items subject to Library control
  2. Holiday decorations and cards
  3. Personal-use items, such as coffee pots, refreshments, and table radios
  4. Services or items provided by the institution
  5. Services involving an employer/employee relationship
  6. Payment for registration fees, travel or travel related items
  7. Equipment, furniture, and related items
  8. Plants and cut flowers for office use
  9. Purchases of items covered by State contracts
  10. Hazardous or radioactive material
  11. Maintenance or other service contracts
  12. Rental of equipment for periods exceeding 30 days
  13. Entertainment or food items - except for certain fund groups (i.e. lab supplies, foundation, and student activity accounts)
  14. Telecommunication equipment with the exception of accessories for official GGC equipment for business use

This list may be revised from time to time to include additions/deletions as required.

 

7.54 Research and Grants Policies And Procedures

Reviewed May 26, 2016

This section has moved to APM 6.50 Research and Sponsored Programs Policies and Procedures.

 

7.60 Development

Reviewed May 26, 2016

 

7.61 The Georgia Gwinnett College Fundraising Policy

Reviewed May 26, 2016

Mission of the Fundraising Program

The purpose of the fundraising program at Georgia Gwinnett College (GGC) is to build relationships and to generate contributions to enhance the College’s projects and programs. The college solicits and accepts charitable gifts through the Georgia Gwinnett College Foundation for purposes consistent with its mission and aligned with institutional priorities.

Purpose of Policy

The purpose of this policy is to ensure that the fundraising efforts of the College are coordinated, aligned with the institution’s most critical priorities, consistent with the donor’s intent, and adherent to the legal and ethical guidelines applicable to fundraising. This policy conforms to Georgia Board of Regents Policy Manual. In cases of inconsistency, Board of Regents policy takes precedence.

Requests for Fundraising

This policy governs all solicitations made on behalf of this institution and/or groups affiliated with Georgia Gwinnett College.

All off-campus solicitations of charitable gifts of any kind from non-College entities - individual, corporate, foundation, organization, or otherwise - must receive prior authorization from the GGC Office of Development prior to initial contact with potential donor(s). Any faculty, staff, or student wishing to make requests for charitable grants or gifts must follow the procedures outlined in the Solicitation Clearance and Reporting Process.

This policy includes, but is not limited to, personal, telephone or written communication with individuals, corporations or foundations; direct mail appeals; telephone appeals; electronic appeals; any appeal over social media or any appeal made using a crowdfunding platform. All direct and indirect annual gift solicitation efforts directed to Georgia Gwinnett College alumni, parents, friends or other affiliated entities are the sole domain of the Office of Annual Giving and Alumni Relations.

All requests to the Office of Development or other institution personnel for labels, mailing lists and/or data files containing names, addresses and/or email addresses of Georgia Gwinnett College alumni, parents, friends or other Georgia Gwinnett College entities for the purpose of direct or indirect solicitation, will not be honored unless the requestor has previously received clearance from the Office of Development.

Units involved in fundraising are responsible for providing detailed information regarding contacts, progress and outcomes to the Office of Development on a regular basis.

Solicitations for charitable gifts also must comply with APM 7.64 Corporate Relations and Sponsorship Policy and APM 7.65 New Fund Creation and Administration Policy.

The GGC Office of Development and/or the GGC Foundation is responsible for providing official gift receipts and information to donors. Gifts are acknowledged according to the Gift Acknowledgment Procedures.

Georgia Gwinnett College and/or the GGC Foundation assume no responsibility or liability for any debts or encumbrances resulting from solicitations by any campus groups or organizations not acting specifically as agents for the College in compliance with the policies set forth in this manual and the procedures as defined by the Office of Development.

Requests for On-Campus Fundraising

On-Campus Solicitations and/or Sales

All on-campus fundraising, solicitation, or sales activities by RSOs or others must receive prior authorization from (1) the Senior Associate Provost for Student Affairs or his/her designee, (2) the Office of Development and (3) the Office of Auxiliary Services (if specific to sales).

On-campus marketing activities involving outside organizations (ie: coupons, services and information exhibits) are coordinated by the Office of Auxiliary Services. For assistance with these activities contact the Office of Auxiliary Services.

Academic Class Projects

All class project fundraising, solicitation, or sales must receive prior authorization from the professor and Dean of the appropriate school, as well as (1) the Senior Associate Provost for Student Affairs or his/her designee, (2) the Office of Development , and (3) the Office of Auxiliary Services (if specific to sales).

Auctions

All auctions conducted on the GGC campus or off campus by GGC students, faculty and/or staff must receive prior approval from the Office of Development. For further details on conducting auctions, contact the Office of Development. Registered Student Organizations interested in holding an auction must first receive prior approval from the Office of Student Affairs.

Raffles

In general, groups and individuals engaging in fundraising for Georgia Gwinnett College are strongly advised against conducting raffles. Georgia state law defines raffles as gambling, and they are subject to state, county, and local ordinances and regulations governing games of chance. No raffles should be conducted on campus or by entities using the name of Georgia Gwinnett College without clearance from the Office of Development and the Office of the President,. For more information, contact the Office of Development.

Outside Organizations and Political Fundraising

In general, Georgia Gwinnett College does not permit outside organizations to conduct fundraising on its campus. The appropriate sponsors wishing to receive an exception must contact the Office of Development and complete the GGC On-Campus Fundraising Approval Form for consideration. There will be no solicitation for political parties or candidates on campus grounds.

 

7.62 GGC Scholarship Policy

Reviewed May 26, 2016

The following policy is for administering and awarding privately-funded GGC scholarships.

Administration

Responsible Parties

  1. Scholarships will be awarded with consideration for the intent and goals of the donor. Need based scholarships will be administered through the Office of Financial Aid. Merit based scholarships will be administered through the GGC Scholarship Committee. When allowed by the scholarship criteria, scholarships will be used for recruitment purposes. The Office of Financial Aid administers all scholarships. A donor may not retain any implicit control over a gift after acceptance by Georgia Gwinnett College.
  2. Upon acceptance of a privately-funded GGC Scholarship, the Office of Financial Aid will coordinate with student recipients to authorize the release of appropriate contact information and other information about the student necessary for properly acknowledging and recognizing the donor.
  3. Annual scholarships may be restricted only to a particular School or major within the School.
  4. For any gift under $5,000, a donor or organization may direct the gift to the Georgia Gwinnett College Scholarship Fund. This gift will not have another name or association with it; however, the donor will be recognized in a variety of ways.

Funding

  1. Expendable scholarships are funded and awarded on an annual basis. An expendable scholarship is not endowed: the disbursement occurs as the money is received by the Georgia Gwinnett College Foundation.
  2. A minimum of $5,000 is required to create and fund a named expendable scholarship. Funding for expendable scholarships must be received by the end of October of each year to be budgeted and awarded at the beginning of the next academic year, which begins each fall. All gifts received after October will be applied to the subsequent academic year.
  3. If a donor decides not to renew an expendable scholarship, then the donor must provide notification to Georgia Gwinnett College by October of the previous academic year.
  4. Endowed scholarship funds will be created in accordance with APM 7.65 Fund Creation and Administration policy.

Naming

  1. Scholarships may carry the name of the donor or may be named in honor or memory of someone else.

Award Selection Criteria

  1. Financial need. Financial need is defined according to the “Expected Family Contribution” and the “Unmet Need” calculation used to determine eligibility for the Pell Grant. Among applicants for a particular award, the student with the lowest “Expected Family Contribution” and the highest “Unmet Need” may be ranked higher than others for scholarship eligibility. However, the committee may consider other persuasive factors for final award determination, as long as the initial financial need threshold has already been satisfied, as determined by the College’s Financial Aid Office.
  2. Academic Merit. Academic merit is defined as a Grade Point Average over a 2.75 cumulative GPA. Among applicants for a particular award, the student with the highest GPA may be ranked higher than others for scholarship eligibility. However, the committee may consider other criteria, as outlined in item C for the final award determination. Preference may also be given to students who are NOT currently recipients of the HOPE scholarship, which is defined by the State of Georgia, unless a student can demonstrate a circumstance which justifies receiving a merit award in addition to a HOPE scholarship.
  3. Other Criteria
    1. Scholarships are provided to U.S. Citizens or eligible non-citizens.
    2. The donor may recommend that the student is a full-time student (enrolled in a program of at least 12 semester hours).
    3. The donor may recommend that the student is not concurrently receiving any other scholarship.
    4. In the event of an expendable, renewable scholarship, and the recipient becomes eligible for the HOPE scholarship, the Scholarship Committee, may 1) renew the annual scholarship award, 2) consider choosing a new recipient or 3) the Committee may request a letter of justification from the award recipient that states why the recipient believes he/she should remain eligible for the renewable scholarship where Hope eligibility has been established.
    5. Applicants may be asked to write a 500 word personal statement about why receiving this scholarship would contribute to their academic and future career goals. The Scholarship Committee is responsible for reviewing these applications and determining the candidate(s) who fulfill the award criteria.
    6. If requested, a student may submit a statement of other factors for consideration by the Scholarship Committee.
    7. For any need or merit based scholarship, the Committee, in its discretion, may consider other factors as presented by others members of the College community, including the GGC School Deans, as part of an award determination, as long as the initial criteria for need or merit eligibility have been satisfied.
    8. For any scholarship awards based on endowed or restricted funds, every effort will be made to award scholarships according to the terms specified by the donor. Where a conflict exists between a donor request and Scholarship Committee policy, the terms of the donor request shall prevail, unless barred by law.
    9. The same scholarship may be awarded to the same student for up to five years provided that funds are available and the student continues to meet the scholarship criteria.
 

7.63 GGC Alumni Contact Policy

Reviewed May 26, 2016

For the purposes of this policy, alumni refers to any graduate of Georgia Gwinnett College.

All requests for contact information, invitations to participate in College related activities and any contact from GGC in any official capacity (academic, administrative, RSO, athletic, etc.) must be directed through the Office of Alumni Relations. Requests must be submitted to the Office of Alumni Relations five (5) business days prior to initial contact with the alumnus/i. Requests may be submitted in person, via phone, or by emailing the Office of Alumni Relations.

 

7.63 Corporate Sponsorship Policy

Reviewed May 26, 2016

Statement of Policy

Georgia Gwinnett College (GGC) welcomes corporate support subject to the following guidelines

GGC will not accept corporate sponsorship that reflects in a negative manner on the college, does not align with its mission statement or is not in the best interest of the health and safety of the college community as determined by the Associate Vice President for Development, Vice President for Advancement, or the President of the college.

GGC does not accept corporate sponsorships for certain categories of products and services, including alcohol products, illegal drugs and drug paraphernalia, weapons, tobacco products or establishments, sexual services, gambling opportunities or casinos, weight loss products or plans, check cashing services and credit cards.

The college does not endorse, directly or by implication, any products, services or ideas advertised except those sponsored directly by the college.

Purpose of Policy

As a 21st century liberal arts college, GGC seeks to provide an educational environment in which teaching and learning can occur. The corporate sponsorship policy is designed to guide decision-making for college personnel who are approached by external sponsors who want to access the campus community and for departments and programs seeking supplemental revenue to support college activities from external sponsors. The policy also is designed to be mindful of the GGC Foundation’s status as a nonprofit organization under the law.

Definitions

Sponsorship means the provision by a non-college entity of tax-deductible money, goods or services to the college, a school, department, or registered student organization (RSO) in support of one or more activities, events, or programs.

Acknowledgement is a term used to signify the recognition of Sponsorship support. A typical Acknowledgement of Sponsorship is the placement of the sponsor’s logo, and/or certain information about the sponsor, in the promotional material for the activity or event associated with the Sponsorship.

Gift of Money is a cash donation or pledge made directly or through the Georgia Gwinnett College Foundation to a school or department.

Gift-in-Kind is a product or service donated, in lieu of a cash gift, to a school or department.

Procedures

GGC schools, departments, programs, and RSOs must receive approval from the appropriate Vice President, Dean, or next level supervisor, as well as the Office of Development, before gifts are solicited. Because corporate sponsorships are charitable contributions by IRS definition and must be appropriately receipted under the law, all gifts received must be processed by the Office of Development in order to ensure accurate accounting and acknowledgment of all contributions to the college and/or the GGC Foundation.

To be considered a contribution, a Sponsorship payment must include all of the following characteristics:

  • A tax-deductible Gift of Money or Gift-in-Kind received from a business or commercial enterprise.
  • A printed or other acknowledgment of the business or commercial enterprise from the college (e.g. included on an event invitation or program, sports scoreboard, banner, or other display).
  • The acknowledgment may not contain:
    • The college’s endorsement of the business entity or its products or services, or
    • Any qualitative or comparative language about the business entity’s products or services (e.g. statements or information about the quality or prices of products or services), or
    • Any information other than business name, logo, address, telephone number and/or Internet address

The payment received may not be from a vendor as part of an exclusive provider arrangement between the college and that vendor.

GGC entities should be mindful of the significant value to non-college entities that results from the exposure and association with GGC that a Sponsorship relationship provides. The Office of Development will work with GGC entities to appropriately coordinate all Sponsorships.

 

7.64 GGC Corporate Relations and Sponsorship Policy

Reviewed May 26, 2016

Purpose and Intent of Policy

It is the intent of this policy that Georgia Gwinnett College will actively pursue relationships such as corporate partnerships, sponsorship of activities, and other business affiliations with corporations and/or other external entities whose products, policies and practices align with the primary mission and purpose of the College and its institutional priorities. Any restrictions or requirements resulting from contracts with or gifts from corporations should not detract from these purposes. The College does not endorse, directly or by implication, any products, vendors, services or ideas, except those sponsored directly by the College. The most important aspect of this policy is that those with authority to commit the institution to corporate relationships have the great responsibility to carry out its mission and purpose.

Definitions

Sponsorship means the provision by a non-college entity of money, goods or services to the College, a school, department, program, or registered student organization (RSO) in support of one or more activities, events, or programs. Sponsorships intended as charitable contributions must follow IRS rules and be appropriately receipted under the law through the Office of Development/GGC Foundation.

Partnership is defined as a relationship in which two or more persons or entities combine capital, labor, etc. to carry on a business or program, usually sharing the profits and losses in certain proportions.

Vendor Agreement refers to any arrangement or understanding between the College and one or more of its contracted suppliers to provide the vendor’s product or service to the College.

Acknowledgement is a term used to signify the recognition of Sponsorship support. A typical Acknowledgement of Sponsorship is the placement of the sponsor’s logo, and/or certain information about the sponsor, in the promotional material for the activity or event associated with the Sponsorship.

Gift of Money is a cash donation or pledge made directly or through the Georgia Gwinnett College Foundation to a school or department.

Gift-in-Kind is a product or service donated, in lieu of a cash gift, to a school or department.

Conditions and Procedures

Georgia Gwinnett College enters into many types of financial and business arrangements. The relevant arrangements fall into four basic categories. In its corporate relationships, Georgia Gwinnett College will comply with the University System of Georgia Board of Regents Policy Manual Sections 7.1 through 7.13.

  • Agreements for procurement of goods and service. The Vice President for Business and Finance has primary responsibility for these types of agreements and governs them primarily by the state and federal and applicable Board of Regents and College policies and procedures. They generally arise from competitive bidding or requests for proposals. For detailed guidelines governing procurement of goods and services, please contact the Office of Business and Finance. (See BOR Policy Manual 7.2.2 Auxiliary Enterprises Revenues and Expenditures.)
  • Agreements related to research grants or testing arrangements involving both public and private sources. The Office of Research and Sponsored Programs and the Office of Development, as appropriate, have primary responsibility for these types of agreements. They are governed primarily by state and federal law and applicable Board of Regents and College policies and procedures. For detailed guidelines governing research grants or testing arrangements, please contact the Office of Research and Sponsored Programs or the Office of Development.
  • Agreements related to gifts, donations, unrestricted gifts, strategic partnerships, and affiliated partnerships, some of which may be subject to specific conditions. The Office of Development has primary responsibility for these agreements and governs them by state and federal law, as well as applicable Board of Regents and College policies and procedures. Any faculty, staff, or student wishing to enter into such an agreement on behalf of the College and/or its related entities must coordinate with the Office of Development and follow the procedures outlined in the Solicitation Clearance and Reporting Process. The Office of Development provides clearance for all such requests and guidance for gifts, donations, unrestricted gifts, strategic partnerships, and affiliated partnerships.
  • Agreements related to affinity marketing and other activities utilizing or involving the Alumni Association or other affiliated support organizations. The Office of Development has primary responsibility and governs them by state and federal law, as well as applicable Board of Regents and College policies and procedures. For detailed guidelines governing affinity marketing and other activities utilizing or involving the Alumni Association or other affiliated support organizations, please contact the Office of Development.
  • Agreements related to corporate sponsorship. Many corporate sponsorships are charitable contributions by IRS definition and must be appropriately receipted and acknowledged under law. The Office of Development has primary responsibility for these agreements and governs them by state and federal law, as well as applicable Board of Regents and College policies and procedures. Any faculty, staff, or student wishing to enter into such an agreement on behalf of the College and/or its related entities must coordinate with the Office of Development and follow the procedures outlined in the Solicitation Clearance and Reporting Process.

GGC will not accept corporate sponsorship that reflects in a negative manner on the College, does not align with its mission statement or is not in the best interest of the health and safety of the College community as determined by the Associate Vice President for Development, or the President of the College.

GGC does not accept corporate sponsorships for certain categories of products and services, including alcohol products, illegal drugs and drug paraphernalia, weapons, tobacco products or establishments, sexual services, gambling opportunities or casinos, weight loss products or plans, check cashing services and credit cards.

 

7.65 GGC New Fund Creation and Administration

Reviewed May 26, 2016

Occasionally, a donor may wish to contribute to a program or project for which there is no dedicated restricted fund. In many cases, the donor may be advised to contribute to a restricted fund designated generally for the school or unit under which the chosen program or project is managed, with a stated preference as to how the gift is to be used. The following policy outlines the circumstances under which a new restricted fund may be created.

Fund purpose

In general, the fund purpose must be aligned with one or more stated institutional philanthropic priorities. The fund purpose should not limit the use of funds more than necessary to support the program or project. The fund purpose should include a statement as to how the funds will be directed should the stated purpose become infeasible or if the program or project ceases to exist.

Fund thresholds

  1. Expendable Restricted Funds
    1. The donor(s) guarantee gifts of at least $5,000 annually
    2. The Office of Development has a reasonable expectation that $5,000 in collective gifts will be raised annually from the general public in support of the fund’s purpose
    3. There is a documented history of raising at least $5,000 annually in support of the fund’s purpose
    4. A donor promises a single gift large enough to warrant a designated fund, as approved by the Office of Development.
  2. Endowed Funds
    1. A single gift of $50,000 or more
    2. The Office of Development has a reasonable expectation that $50,000 will be raised in support of the fund’s purpose, within 5 years of the date of the first gift.

Administration

  1. Gifts that arrive with stated purposes that do not clearly belong in an existing fund must be deposited into a temporarily restricted account and held until the appropriate fund has been identified or created.
  2. A new fund creation form (ADV 1.0) must be completed and approved prior to receiving donations into the fund. This form is available in the Office of Development.
  3. Each fund must have a designated budget manager and a clear disbursement process. For most programs and projects, this budget manager will be the dean, faculty member, or unit director who oversees the program or project.
  4. The faculty / staff member who oversees the program funded will be the designated Budget Manager. If that person is also a donor to the fund, his or her direct supervisor may be designated as the Budget Manager.
  5. All new fund requests must be approved by the designated budget manager, the budget manager’s direct supervisor, and the Office of Development.
  6. The GGC Foundation will issue regular reports to budget managers that include:
    1. Fund name, purpose, and balance available
    2. Summary of administrative duties
    3. Link to the Foundation Funds Request form (ADV 2.0/3.0)
 

7.66 GGC Memorial Tributes Policy

Reviewed May 26, 2016

Gifts for the Memorial Tributes Program

Donors desiring to memorialize a member of the Georgia Gwinnett College community (faculty, staff, students, alumni and friends of the college) will be encouraged to contribute to the Memorial Tributes Program through the GGC Memorial Garden and other Memorial Tribute Programs, as these programs are established by the College (examples of other memorial tributes programs include memorial plaques, memorial benches or other tangible tributes as approved by the college). In accordance with this Policy, the college shall designate the design and focal point areas for all campus memorials. Gifts made under the Memorials Tribute Programs are separate and distinct from the other college and foundation campaigns and thus have separate publication and recognition guidelines as outlined in this policy.

Published Recognition of Donors for the Memorial Garden and other Memorial Tributes

Donors who make a gift of $1,000 or more to the Memorial Garden or other established Memorial Tribute Programs will have the opportunity to memorialize an individual. The Office of Development will maintain a complete record of memorials, their origin, and their donors on the Memorial Garden/Memorial Tributes Program’s remembrance website.

The name of the individual whom the donor wishes to remember will be listed. The listing will be in accordance with guidelines established by the Office of Development.

Gifts, at any level, can be made to the Memorial Garden or other Memorial tributes; however, in order for the name of the honored to be listed on the remembrance website, a minimum gift of $1,000 restricted to the Memorial Garden/Memorial Tributes Program is required. The Development Office will be responsible for updating the website twice a year.

Memorial Garden Special Gift Opportunities

Gifts of materials, landscape plantings and other properties (i.e. benches, bricks, statuary, etc.) are welcome as required by the design of the Memorial Garden. Donors contributing these gifts, regardless of the amount, will have the names of the honored listed in a special section of the remembrance website. A list of approved special giving opportunities with approximate pricing information is available and will be updated by Office of Development as the needs of the Garden change.

How Contributions to the Memorial Garden/Memorial Tributes Program Will Be Used

Contributions made to the Memorial Garden/Memorial Tributes Program will be placed into a fund managed by the Georgia Gwinnett College Foundation, Inc. The purpose of the fund will be restricted to the enhancement of the Memorial Garden/Memorial Tributes Program.

Materials to be Used in the Memorial Garden/Memorial Tributes Areas

To protect the integrity of the Memorial areas, the Office of Facilities must approve all materials, plaques, landscaping, and other items to be used in the Memorial Tribute areas. A list of those approved will be made available for those wishing to make a gift of materials, plantings, etc.

Additional Campus Memorial Opportunities

The College wants to make available to its community the opportunity to memorialize individuals in ways that benefit current and future students. At the same time, it is important that any of these types of designations fit appropriately into the overall physical environment of the campus and that they be placed in an area where future construction is not anticipated. Therefore, planting of trees outside of the Memorial Garden, placing plaques on campus, or other forms of memorial tribute when not officially sanctioned by the college, cannot be accepted.

Through the creation of the Memorial Garden/Memorial Tributes Program, the college has established a special venue for those who wish to memorialize or honor a loved one in a lasting way. This opportunity complements, but does not replace, other existing avenues for such gifts, scholarships, endowments. Information on other gift opportunities is available from the Office of Development.

 

7.67 GGC Student Grants Policy

Reviewed May 26, 2016

The following policy is for administering and awarding privately-funded GGC Foundation grants to students. This policy governs the GGC Foundation Grant program as well as additional grant funds established by individual, corporate, and foundation donors. Donor-established grant funds may carry criteria in addition to the parameters outlined below. Unless specifically stated otherwise in the fund agreement, all GGC Student Grants programs must adhere to these basic guidelines.

Administration

  1. Grants will be awarded with consideration for the intent and goals of the donor. A donor may not retain any implicit control over a gift after it has been accepted by the Georgia Gwinnett College Foundation.
  2. Grants will be administered through the Office of Financial Aid and award decisions are to be approved by the Provost. The Provost may designate a budget manager to approve awards from specific grant funds by filing a written request with the GGC Foundation.
  3. Each student’s eligibility for the award, along with approval by the Provost or designated budget manager, must be confirmed in writing and submitted to the GGC Foundation prior to funds being transferred from the GGC Foundation to GGC.
  4. The process by which students are selected and deemed qualified will be designed, executed, and evaluated by the Office of Financial Aid.
  5. Grants may be awarded to students taking at least six (6) credit hours per semester.
  6. Grants may not be used to cover non-essential purchases or disciplinary charges such as late fees, housing fines, or parking violations.
  7. The Office of Financial Aid will coordinate with student recipients to authorize the release of appropriate contact and biographical information necessary for appropriate acknowledgement and recognition of the donor.
  8. Gifts under the fund threshold defined in APM 7.65 GGC New Fund Creation and Administration Policy may be directed to the Georgia Gwinnett College Student Emergency Fund. Such gifts will not have another name associated with them; however, the donor may be recognized in a variety of ways.
 

7.70 Foundation Policies

Reviewed May 26, 2016

 

7.71 GGC Foundation Spending Policy

Reviewed May 26, 2016

This Spending Policy (“Policy”) is issued by the Board of Trustees (“Board”) of the Georgia Gwinnett College Foundation (“Foundation”) for the guidance of the Finance Committee (“Committee”), the investment manager(s) of the Foundation’s endowed, or pending endowed, funds (“Fund”), and other fiduciaries, in the course of disbursing the monies of the Fund.

Consistent with the overriding intent to encourage the growth of the foundation’s assets through reinvestment of a portion of the annual earnings and to provide support for university priorities, projects, and programs at a level consistent with the intentions of the donors, the annual draw will be 4% of the average market value for each individual endowment, based on the average of the last 4 quarters as of December 31st for the first three years after their first distribution. After the third year of their first distribution, the annual draw will be based on the average of the last 12 quarters as of December 31st.

The policy will act to maintain a stable distribution stream, whether the total return is positive or negative in given years. However, at no time will the funds be spent from the corpus (original gift amount, additional gifts received after original gift and any realized capital gains that the Committee has elected to add to the gift balance) or will any unrestricted funds be used to make up for declines in market value that affects the corpus. Instead the Budget for the following year will be reduced down to zero, if necessary, and no further distribution will be made until the Fund sufficiently recovers.

This policy was reviewed by the GGC Foundation Board of Trustees on March 26, 2014.

 

7.72 GGC Foundation Gift Acceptance Policy

Reviewed May 26, 2016

The Georgia Gwinnett College Foundation (“GGC Foundation”) accepts unrestricted gifts and gifts restricted for specific programs and purposes provided that such gifts are consistent with its stated mission and do not jeopardize its nonprofit status. In accepting gifts, Georgia Gwinnett College will comply with the University System of Georgia Board of Regents Policy 7.4 - Private Donations to the USG and its Institutions. The Georgia Gwinnett College Foundation will operate in accordance with IRS Publication 561 - Determining the Value of Donated Property; Publication 526 - Charitable Contributions; and Publication 1771 - Substantiation and Disclosure Requirements. Gifts received by the GGC Foundation must not inhibit it from seeking similar or different gifts from other donors. No gift can be received which limits, beyond a general definition of subject area, the research that a faculty member or student can perform.

The GGC Gift Acceptance Committee consists of the President, Provost, Associate Vice President for Development, and the chairs of the GGC Foundation’s Finance and Audit and Development Committees. The Committee meets on an as-needed basis and approves proposed gifts and financial commitments

The following criteria govern the acceptance of the gift types listed below.

Cash

Cash is acceptable in the form of currency, money orders, checks or electronic transfer (either through a wire transfer to the Foundation’s bank account or by a verified credit card transaction) regardless of the amount. Checks should be made payable to the “Georgia Gwinnett College Foundation.” In no event should a check be made payable to an individual who represents Georgia Gwinnett College or the GGC Foundation.

Tangible personal property

Tangible personal property is property (corporeal movable property) other than real property (immovable property), which is often defined as property that can be touched. If the Foundation intends to sell a gift immediately rather than use it, the donor will be informed that IRS rules may limit the amount of the charitable deduction to the donor’s cost basis, and the donor will be advised to seek professional financial counsel on the tax consequences of such a donation. Only the Gift Acceptance Committee can approve an agreement to hold property for a specified period of time. Appraisals, typically at the donor’s expense, are required for all gifts for which the donor estimates the fair market value to be $5,000 or more. Extraordinary gifts of tangible personal property will be referred to the Gift Acceptance Committee, which will consider the following factors in reviewing such gifts for acceptance:

  • Does the property further the mission and purposes of the Foundation?
  • Is the property marketable, or can it be used by the college in furtherance of the college’s purposes and mission?
  • Are there any restrictions on the use, display or sale of the property?
  • Are there any carrying costs, possible adverse legal consequences, or potential liabilities associated with ownership of the property?

Securities

The Foundation accepts both publicly-traded securities and closely-held securities under the conditions described below:

Publicly-traded securities-These are securities regularly traded on a public stock exchange. It is preferred that donors electronically transfer marketable securities in accordance with instructions provided at the time of gift. Alternatively, marketable securities may be delivered physically to the Foundation office with the donor’s/transferor’s stock power attached. It is the Foundation’s policy to sell all marketable securities on receipt. Those securities which are determined to be restricted by applicable securities laws will be reviewed by the President and General Counsel of the Foundation. A recommendation on whether the proposed restrictions are considered to be reasonable will be provided to the Gift Acceptance Committee. The value of the gift will be calculated using the mean share price between the high and low selling prices quoted on the day the stock is transferred to the Foundation.

Closely-held securities–Acceptance of closely-held securities, which include not only debt and equity positions in non-publicly traded companies but also interests in limited partnerships and limited liability companies, or other ownership funds, must be approved by the Gift Acceptance Committee, with the following factors to be considered: any restrictions on the security that would prevent its conversion to cash, the marketability of the security, and the potential for other undesirable consequences for the Foundation.

Real estate

Gifts of real estate (immovable property) include developed property and undeveloped property, as well as gifts subject to a prior life interest or usufruct (legal right to use and derive profit or benefit from the property that belongs to another person). Prior to the acceptance of real estate, the Foundation shall require, typically at the donor’s expense, an independent appraisal of the property’s fair market value, as well as a Phase I environmental study to ensure that the property has no environmental damage or other environmental issues that would expose the Foundation to liability. The General Counsel shall issue a written opinion regarding acceptance of the proposed real estate donation for final review and an acceptance decision by the Gift Acceptance Committee. Factors to be considered in acceptance of the property shall include: usefulness of the property for the purposes of the Foundation; marketability of the property, relative to its condition; any restrictions, reservations, easements, or other limitations associated with the property; carrying costs, such as insurance, property taxes (taking into account that the Foundation is not eligible for tax exemption in the year of the property transfer), mortgages, or notes, associated with the property; the results of the environmental study report, and any potential liability for cleanup or restoration of the property that may be imposed under current law to a transferee.

Restricted gifts

Unrestricted gifts shall be encouraged unless 1) the donor indicates that he or she is only willing to make a restricted gift, or 2) the option of a restricted gift will otherwise significantly increase the chances of obtaining a gift from the donor, or 3) the gift is solicited to address a specific priority of the College.

In drafting instruments for the gift of restricted funds to the Foundation, or to any of its affiliated organizations, donors and their advisors shall be encouraged to use language that would permit application of the gift to a more general purpose if, in the opinion of the board, the designated purpose is no longer feasible.

All receipts from unrestricted bequests, annuities, charitable remainder trusts, or charitable lead trusts shall be designated at the discretion of the Gift Acceptance Committee in keeping with the intent of the donor.

Restrictions placed on the use of the funds contributed to the Foundation may be rendered illegal, unreasonable or unable to be fulfilled due to circumstances, including, but not limited to: the termination of a College program; a surplus of funds available from other sources to fulfill the designated purpose; the insufficiency of the restricted funds to fulfill the designated purpose where no funds from other sources are available to supplement the restricted funds; or the designated purpose is no longer consistent with the mission of the College and its individual programs. If the donor(s) is (are) unavailable to alter the account restriction(s), the Foundation, if reasonably practicable, shall consult with donor’s representative or close family members to restructure the gift in keeping with the donor’s original intent. In the absence of an agreement, the Foundation may seek approval of a court with jurisdiction to remove or modify such restriction(s). If termination of the restriction(s) is (are) obtained, the Foundation may seek to use the funds for a purpose deemed appropriate in keeping with the original intent, assuming the restriction is removed.

Other property

Property not otherwise described above, whether real or personal, of any type (including copyrights, intellectual property, trademarks, royalties, servitudes, easements or other incorporeal rights) may be accepted after review and approval by the Gift Acceptance Committee.

All gifts will be acknowledged with a letter and/or an official gift receipt. The Office of Development is the only College agency authorized to provide official gift receipts to donors. The Office of Development prepares the official gift receipt and, when applicable, completes or prepares related documents such as IRS Forms 8282 and 8283.

This policy was reviewed by the GGC Foundation Board of Trustees on March8, 2016.

 

7.73 Privacy Policy

Reviewed May 26, 2016

The Georgia Gwinnett College Foundation maintains a comprehensive database of information on donors and prospective donors. The type of information collected and maintained can include, but is not limited to, name, address, phone number(s), e-mail address(es), and employer. This information is used for internal purposes only. All records associated with personal or financial information about a donor, alumnus, prospective donor, volunteer, or employee are records of GGCF and are confidential.

The Georgia Gwinnett College Foundation respects the privacy concerns of donors, including prospective donors. If a donor expresses a desire for anonymity, the Georgia Gwinnett College Foundation will not disclose such donor’s name or gift amount, nor will it disclose other private donor information entrusted to it, except where required by law. Examples of private information include personal financial records, will and trust documents. It is only with the donor’s consent that the Georgia Gwinnett College Foundation discloses biographical information for non-College-related purposes. The type of information the Georgia Gwinnett College Foundation would not disclose is:

  1. Private Information. The Georgia Gwinnett College Foundation does not disclose private information. For purposes of the Policy, “private information” is information of a personal and sensitive nature that is not generally available from third-party sources and that, if disclosed, would violate legal or ethical obligations of the Georgia Gwinnett College Foundation to a donor (or prospective donor) or an employee. This information includes, but is not limited to, confidential donor information and employee personnel records.
  2. Biographical Information of Donors Who Desire Privacy. The Georgia Gwinnett College Foundation only discloses donor biographical information for non-college related purposes after obtaining the donor’s consent.
  3. Personal Information Regarding Employees. The Georgia Gwinnett College Foundation maintains appropriate, and in many cases legally-mandated, safeguards to protect the confidentiality of individual staff records and personal medical information.

All fundraising-related discussions concerning major gift prospects—whether individuals, foundations, or corporations—will be held in confidence. All information concerning financial capability, past giving patterns, specific gifts, and/or personal disclosures about giving interests will be treated confidentially. All discussions and/or reports of gifts and endowment campaign commitments made during campaign committee meetings will be held in confidence until the donor’s desires concerning publicity or anonymity are expressed in the written confirmation of the pledge or gift. This Policy sets forth the Georgia Gwinnett College Foundation’s practices with respect to disclosure of information. To the extent it is inconsistent with federal or state law, including Georgia’s Open Records Act, or an agreement with a donor, such law or agreement shall prevail in determining the propriety of disclosure. The Georgia Gwinnett College Foundation further protects individual privacy rights by requiring that all Georgia Gwinnett College Foundation trustees and staff members annually sign a confidentiality agreement.

This policy was reviewed by the GGC Foundation Board of Trustees on March 26, 2014.

 

7.74 Donor Recognition Policy

Reviewed May 26, 2016

Introduction

The Georgia Gwinnett College Foundation’s (GGC Foundation) purpose is to advance Georgia Gwinnett College (GGC) by supporting, guiding and protecting it, and by assuming fiduciary responsibility for private gifts to GGC. The GGC Foundation manages, invests and administers funds from private resources to further academic excellence at GGC. The GGC Foundation’s volunteer leadership provides broad guidance and support to the College.

Educational philanthropy provides the margin of excellence to advance the college above and beyond state funding. The GGC Foundation is committed to enhancing higher education for faculty, staff and students at GGC, and to increasing the quality of life on campus. Gifts to the GGC Foundation support the College’s mission for student success and innovation in teaching through scholarships, research grants, training, and campus improvements.

Guiding Principles

Donor recognition activities are powerful tools for showing appreciation and providing recognition to GGC’s donors. Additionally, these practices communicate philanthropy as a core value for GGC and build a tradition of giving. Enhanced giving from existing and prospective donors is encouraged through appropriate recognition of GGC’s donors and consistent communication about ways to give.

Donor recognition is a key contributor to successful fundraising. As such, this policy has been established with the following development strategies in mind:

  • Demonstrate networks of donors and a volume of supporters/partnerships
  • Provide multiple reasons to give to multiple constituent groups
  • Illustrate internal constituents’ commitment as a motivator for other constituent groups
  • Exhibit donor-centered, not GGC-centered, focus
  • Include stories that allow the viewer to understand the complex and long-term relationships between GGC and its donors
  • Maintain consistency with other communication efforts and the GGC strategic plan
  • Act efficiently to minimize the time and financial investment in all donor-related activities
  • Develop dynamic strategies that grow and change in keeping with new objectives and outcomes

Roles

By fostering long-term relationships, the Office of Development raises funds for the College, through the GGC Foundation, to help the College attain margins of excellence beyond what state funds enable.

The Georgia Gwinnett College Foundation, Inc. is an independent nonprofit corporation created and existing under the laws of the State of Georgia which is recognized by the Internal Revenue Service as an exempt organization under Section 501(c)(3) of the Internal Revenue Code.

Objectives of Donor Recognition Standardization

These guidelines have been developed to ensure consistent and appropriate recognition of GGC’s donors. While it is a priority of GGC to recognize and thank every donor, we must ensure that our methods of recognition adhere to a planned program of recognition based on gift type and/or amount and never impede GGC’s primary mission. GGC’s Accreditation Status, Vision, Mission, Institutional Goals and Operating Principles can be found here.

The College seeks to provide appropriate recognition of donors for their generosity. Donor recognition guidelines are in place to protect the best interest of GGC donors, and may be subject to revision by the Associate Vice President for Development. Any comments or questions relative to these guidelines should be directed to the Associate Vice President for Development. The Office of Development can be contacted at 1000 University Center Lane, Lawrenceville, GA 30043, phone 678-407-5588, or development@ggc.edu.

The GGC Foundation routinely thanks contributors through:

  • “soft recognition” (items may include, but are not limited to, thank you letters, certificates, photographs, plaques, paintings or crafted objects)
  • recognition events (forms of donor involvement may include media events, press announcements, photo opportunities, ground breakings, ribbon cuttings, and meal functions)
  • recognition opportunities (namings, donor walls, displays and placards, lists in print or digital media)

Specifically, this policy exists to:

  • Establish and maintain standards and guidelines for donor recognition which are appropriate to the giving community and maintain the branding and operational directives of GGC. Doing so will enhance and broaden participation over time as donors perceive planned, appropriate and integrated recognition of their contributions.
  • Enhance the credibility of the GGC Foundation by presenting an established, well-coordinated action plan for donor recognition.
  • Maximize the communication potential for donor recognition at GGC by providing appropriate tools for stating appreciation of existing donors and encouraging new and ongoing philanthropic support of GGC.
  • Establish and maintain standard procedures for the selection and approval of recognition opportunities that reflect GGC’s values and protect the organization’s public image.
  • Provide a program of recognition that promotes consistency through design and implementation guidelines and a consistent routine for the planning, review and approval and implementation of all donor recognition components.
  • Provide the benefit of the collective institutional memory and a broad campus perspective with regard to donor recognition and donor recognition activities by documenting decisions in a single resource guide.

Disclaimer

The authoritative source of information concerning Board approved policies and procedures governing academic and administrative matters is the Policy Manual of the Board of Regents. In cases of inconsistency, Board of Regents policy takes precedence.

Principles

  • Public recognition of donors is intended to honor and celebrate those who give, present an array of opportunities available to give, and communicate the on-going need for continued giving by the community.
  • Each recognition effort is to be considered a “branding opportunity” for philanthropy and as such, graphic standards and guidelines are to be maintained.
  • Messaging should be consistent with GGC’s brand identity and true to the nature of the gift. Donor recognition is a story-telling exercise: by sharing the story of why one donor chose to give, informed appreciation of the gift received is demonstrated thereby encouraging giving by others.
  • Each display shall have a documented communications goal, clearly defined initial content, a projected capacity/time span, and budget established prior to product selection and implementation.
  • Manufactured products for displaying donor names, lists and other content are chosen for their appropriateness to the architectural environment and giving program levels, and displays are to be built and function as agents for change, encouraging the ease and efficiency of updating.
  • Display locations will impact viewer readership and influence. Consideration for viewer comfort while reading, and for appropriate traffic patterning by readers interested in the specific content of a display, is to be considered in selecting display location.
  • Giving, unless otherwise defined by the display is assumed to be a financial gift directly to GGC. Recognition of philanthropic gifts of time and talent are to be specifically identified as such.
  • In-kind gifts will be accepted and recognized at fair-market value, as defined by a qualified appraisal in concert with the GGC Foundation, if they replace an expense GGC would have made to achieve an already stated goal.
  • Sponsors (those making philanthropic gifts with time-limited agreements) will be recognized as donors, with recognition components corresponding to gift levels defined by the Associate Vice President of Development. Additional or alternative benefits may be offered to event sponsors, on an event-by-event basis.
  • The donor recognition level, as defined by the donor recognition standards, may not exactly correlate to the value of the gift reported for taxation purposes.
  • Unless otherwise stated in the individual gift agreements, pledges must be 2/3 complete before public donor recognition components are installed.

Definitions

Naming Opportunity: Displays giving recognition to those persons or entities who have made major gifts to GGC that include the donor’s name in the formal name of the location, program, scholarship, fund or other entity. Minimum gift levels and donor benefits are recorded in the Content and Array Matrix found in Section 2 of the GGC Donor Recognition Standards & Guidelines which is located in the Office of Development

Recognition Opportunity: Areas or displays where donor recognition occurs, including but not limited to, naming opportunities. This term may be applied to displays listing groups of donors, as well as venues that are not based in GGC’s facilities, such as printed collateral, the website and other digital media.

Gift/Giving: Cash, securities, real estate and life insurance policies are accepted by the GGC Foundation. Gifts-in-kind may be accepted.

Sponsorship: Sponsorship means the provision by a non-college entity of money, goods or services to the college, a school, department, program or registered student organization in support of one or more activities, events or programs. Sponsorship indicates a time-limited partnership between the GGC Foundation and the providing entity. There are three types of sponsorships:

  • Event/activity sponsorship - example: Commencement. Sponsor benefits vary per event and are limited to the event and any publicity surrounding it.
  • Location/Item sponsorship - proposed example: Wellness Center. Sponsor benefits are determined first by the gift amount, then by the physical parameters of the item.
  • Program sponsorship - proposed example: Student Success Programs. Sponsor benefits are determined by the gift amount. Public recognition occurs in a grouped recognition display located in the Library and Learning Center.

Authority and Approvals

The Georgia Gwinnett College Naming Committee consists of the President, Senior Vice President for Academic and Student Affairs/Provost, Associate Vice President for Development, and a member of the Georgia Gwinnett College Foundation’s Board of Trustees. The Committee meets on an as-needed basis and approves all financial commitments for naming opportunities. With the Naming Committee’s approval, the President of Georgia Gwinnett College will submit naming requests to the Board of Regents.

The Naming Committee, through the President, will provide a report on namings and naming removals for interior space, as information only, to the University System chief facilities officer at the end of each calendar year in accordance with Board of Regents procedures and guidelines.

The Development Office will maintain:

  1. A list of all naming opportunities, interior and exterior, specific to real estate and facilities. The GGC Naming Committee will approve the list of naming opportunities. Reporting, review and approval will be conducted directed in the Board Regents Policy Manual Section 7.4.1, Naming of Places, Colleges, or Schools. Minimum gift levels have not been established by the Board of Regents. Minimum gift amounts established by GGC and donor benefits are recorded in the Content and Array Matrix found in Section 2 of the GGC Donor Recognition Standards & Guidelines which is located in the Office of Development.
  2. A list of all naming opportunities specific to faculty positions. This list will comply with the directives in the Board of Regents Policy Manual Section 8.3.2.2, Establishment of Named Positions. Minimum gift amounts have been established by the Board of Regents. Minimum gift levels specific to GGC and donor benefits are recorded in the Content and Array Matrix found in Section 2 of the GGC Donor Recognition Standards & Guidelines which is located in the Office of Development.
  3. Parameters specific to named scholarships. Minimum gift levels and donor benefits are recorded in the Content and Array Matrix found in Section 2 of the GGC Donor Recognition Standards & Guidelines which is located in the Office of Development.
  4. The GGC Foundation Gift Acceptance Policy found in section 7.72.
  5. A gift acceptance agreement template including the offer of appropriate donor recognition to a donor.
  6. Donor recognition product design and implementation standards and guidelines.

Management of the donor recognition development, review, approval and implementation process shall be conducted with shared responsibilities between three teams, with one team leading each segment of the process.

  Content Development Design Review Design Approval Implementation
Office of Development Lead Lead Lead Support
Office of Public Relations Support Support Support Support
Office of Facilities Support Support Support Lead

Coordination of available opportunities with individual donors must take into consideration the public perception of the resulting naming. The GGC Naming Committee has the authority to reject a naming opportunity.

Situations may occur that would warrant the removal of a name. Circumstances may dictate that the parameters under which a name was bestowed have changed to the extent that consideration must be given to removing the name. In this situation, GGC will comply with the Board Regents Policy Manual.

If a donation is received from an entity that later goes out of business or otherwise ceases to legally exist, the GGC Foundation has the authority to negotiate a new agreement and/or remove the donor recognition and re-offer the opportunity immediately.

Funding for donor recognition varies project to project; the Associate Vice President of Development will clarify the specifics of each project as required by the scope, timing and implications of the project.

Record-keeping regarding donor recognition practices and individual components and installations will be maintained by the Office of Development. Record-keeping shall include filing of the approved layout and specifications as well as entry of pertinent records in the Recognition Opportunity Master Plan, Section 3 of the GGC Donor Recognition Standards & Guidelines which is located in the Office of Development.

Directives

  • The Pledge Acknowledgement Letter may include mention of recognition opportunities pertinent to the gift or the donor’s cumulative giving total; reference the GGC Foundation’s Acknowledgment Procedures.
  • All donor recognition shall be designed, implemented, installed and/or maintained in keeping with the GGC Donor Recognition Standards & Guidelines. These guidelines have been established in keeping with GGC’s Master Plan and will adhere to Board of Regents Policy 9.7.4 Campus Grounds and Landscape Standards and Section 9.7.5 Plaques.
  • Donor recognition should be coordinated with the surrounding architecture, landscape or fixtures.
  • Naming opportunities will be listed using the donor’s last name, whenever possible, followed by a recognition statement and then the donor’s full name. The phrasing of the recognition statement should be appropriate to the nature of the gift. Unless otherwise indicated, the phrase, “Named in recognition of a gift from” will be used. Additional content will be included, as outlined in the Content & Array Matrix which is located in the Office of Development.
  • Use of a corporate or foundation logo may be permitted in a plaque associated with naming opportunity recognition, in a one-color format that coordinates with the design of the recognition. Corporate advertising slogans shall not be displayed.
  • Corporate or foundation logos will not be permitted in wayfinding or place identification graphics.
  • Corporate or foundation logos will not be permitted in donor walls or other donor lists. Corporate or foundation logos may be used in time-limited print or digital media, with size, color and location to be determined by the Office of Development in keeping with the overall format of the design.
  • Unless otherwise noted, naming opportunities are considered permanent until the function of the space is altered or eliminated, in keeping with Board Regents Policy Manual. In the event that recognition is scheduled for removal, the donor will be offered a similar naming opportunity of the GGC Foundation’s choosing or recognition will be re-established in a historical display.
  • The donor is responsible for the cost of change in name or logo initiated by the donor or his or her designee in any donor recognition venue.
  • Recognition of corporate contributions and sponsorships must not imply GGC product endorsement nor give the illusion of solicitation or advertisement. Employees, board members and volunteers, when acting in the interest of GGC, are not to give the appearance of corporate endorsement.
  • Items donated or on loan to GGC, including but not limited to, photographs, memorabilia, artwork and books, when displayed at GGC may acknowledge the donor on exhibit labels in a tasteful manner in line with the display. GGC and the GGC Foundation reserve the right to dispose of donated items.
  • GGC is under no obligation to include recognition of the donor in mention or listing of the naming opportunity, but may do so when appropriate.
  • The GGC Foundation will maintain accurate records of all donor recognition by filing the approved layout of each element and reference to the location in the GGC Donor Recognition Standards & Guidelines which is located in the Office of Development

Please refer to the complete GGC Donor Recognition Standards & Guidelines which is located in the Office of Development for additional information on approved donor recognition programs and the design and implementation of donor recognition displays.

Please refer to the following sections of the Board of Regents Policy Manual:

Section 7.4.1 Naming of Places, Colleges or School
Section 8.3.2.2 Establishment of Named Positions
Section 9.7.4 Campus Grounds and Landscape Standards
Section 9.7.5 Plaques

This policy was reviewed by the GGC Foundation Board of Trustees on March 8 2016

 

7.75 Charitable Gift Annuity Policy

Reviewed May 26, 2016

A commitment to a comprehensive planned gifts program by Georgia Gwinnett College requires significant facilitating decisions and the establishment of comprehensive policies and procedures. All policies and procedures are based on a broad understanding of the nature of planned gifts. The Georgia Gwinnett College Foundation has been in operation for seven (7) years and has the minimum amount required to issue charitable gift annuities under Georgia regulations. The interest of the donor(s) shall come before that of the Foundation for all planned gifts, including gift annuity agreements solicited by the Foundation or its volunteers. No program, agreement, trust, contract or commitment shall be knowingly urged upon any prospective donor that would benefit the Foundation to the detriment of the donor’s interest and welfare.

Charitable Gift Annuity Operating Guidelines

  1. The annuity rates offered by the Foundation will not exceed the uniform annuity rates sanctioned, from time to time, by the American Council on Gift Annuities (ACGA).
  2. Initial minimum gift for an annuity agreement shall be $10,000. Subsequent gifts by the same donor for the same type of annuity agreement will have a $5,000 minimum.
  3. The Foundation may establish charitable gift annuity agreements for only one or two lives. Federal regulations prevent establishing an agreement for more than two lives or for a term of years.
  4. The Foundation may establish single life immediate payment charitable gift annuity agreements for annuitants over the age of 60 at the time the agreement is established. The Foundation may establish a two-life charitable gift annuity agreement when the two lives total a minimum of 120 years and the charitable contribution deduction equals 10% or more of the gift amount. In no agreement shall the one or two-life expectancy exceed 30 years.
  5. The Foundation may establish deferred payment charitable gift annuity agreements for annuitants over the age of 50. The Foundation may establish a two-life charitable gift annuity agreement when the two lives total a minimum of 100 years and the charitable deduction equals 10% or more of the gift amount. In no agreement shall the one or two-life expectancy exceed 40 years.
  6. Investment and Administration of Annuity Assets:
    1. When a gift annuity is established by the Foundation it assumes both the investment risk and the longevity risk. The Foundation reserves the option of reinsuring any charitable gift annuity agreement by purchasing a commercial insurance company annuity agreement to transfer both the investment risks and the longevity risks. Reinsurance of an annuity agreement must be approved by the Foundation’s Finance Committee.
    2. The initial investment strategy for gift annuity agreements will be for the Foundation to purchase a commercially available variable annuity contract. The variable annuity strategy is available for all donors up to and including age 85.
    3. The Foundation will be the owner and beneficiary of all variable annuity contracts.
    4. The variable annuity contract will make all payments to the donor(s) by mail or direct deposit of the payment. The full amount of the gift will be invested in the variable annuity agreement.
    5. The investment policy statement for gift annuity assets will mirror within the ranges listed below the asset allocation recommended by the American Council on Gift Annuities (ACGA). The ACGA allocation target is 55% bonds, 40% Equities and 10% cash. The asset allocation of the charitable gift annuity surplus portfolio will be maintained within the allowable ranges indicated below:
Asset Class Ranges Target
Cash Equivalents 0% to 15% 10%
Fixed Income Securities 20% to 60% 55%
Equities: 30% to 60% 40%
  1. The Foundation will operate using Georgia state regulations within Georgia for the issuance of gift annuities.

This policy was reviewed by the GGC Foundation Board of Trustees on March 26, 2014.

 

7.76 GGC Foundation Endowment Investment Policy

Reviewed May 26, 2016

Purpose

This Endowment Investment Policy (“Policy”) is issued by the Board of Trustees (“Board”) of the Georgia Gwinnett College Foundation (“Foundation”) for the guidance of the Finance Committee (“Committee”), the investment manager(s) of the Foundation’s endowed, or pending endowed, funds (“Fund”), and other fiduciaries, in the course of investing the monies of the Fund. This Policy is intended to set forth an appropriate set of goals and objectives for the Fund’s assets and to define guidelines within which the investment manager(s) may formulate and execute their investment decisions. The Board may amend this Policy both upon their own initiative and upon consideration of the advice and the recommendations of the Committee, investment manager(s) or Fund professionals. It is the policy of the Committee to review these goals and objectives at least once per year and to communicate any material changes to the investment manager(s).

Objectives

The investment objective of the Fund is to seek maximum total return consistent with the preservation of principal, diversification, and avoidance of excessive risk while maintaining sufficient liquidity to meet distribution requirements. The investment objective target rate of return is equal to or greater than 5% plus the average rate of inflation. The Committee will exercise reasonable care, skill and caution with regard to the Fund in the context of the entire portfolio which incorporates risk and return objectives reasonably suitable to the purposes of the Foundation. The assets are to be managed in a manner that seeks to meet these investments objectives, while at the same time attempting to reduce volatility in year-to-year spending. The Fund shall be diversified in such a manner as prudence would indicate. It is the intention of the Board that the assets of the Fund be managed in a manner that complies and is consistent with the provisions of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) enacted by the State of Georgia. The purpose of the diversification is to provide reasonable assurance that no single security will have a significant negative impact on the market value of the total Fund.

Asset Structure

To facilitate investment and accounting, the endowments and other invested funds shall function as a pooled fund. Each individually-named endowment shall hold its pro rata share as part of the investment pool. On occasion as directed by the Board or individual endowment agreement, income may be capitalized and transferred to the principal of a fund.

The investments in the Fund shall consist of all individually-named endowment funds, plus such other funds as directed by the Board from time to time.

Investment Management

The Fund is overseen by the Committee whose responsibilities in the area of investment administration are as follows:

  • To recommend policies to the Board for the management of investments,
  • To make recommendations to the Board on the selection of an investment manager(s),
  • To determine how assets are allocated,
  • To monitor the management of the Fund in order to enhance return and control risk and to keep the Board fully informed of any material changes in the portfolio value or composition,
  • To evaluate the performance of the investment manager(s) for the purpose of retention or dismissal.

The investment manager’s performance shall be compared regularly with the performance of the appropriate equity or fixed income market indices, performance of peers, industry benchmarks and other reasonable performance guidelines. The investment manager will be responsible for custody of securities. If the investment manager does not generally offer custodial services, the Committee shall name a custodian. All purchases of securities will be for cash and there will be no margin transactions or short selling.

If at any time during the management of the portfolio, a realized loss of ten (10) percent or more against the total Fund value is realized, the investment manager shall notify the Committee within two (2) business days of the realized loss.

Investment Guidelines

The asset allocation percentage guideline shall be defined and managed by the Community Foundation of Northeast Georgia. The Committee may modify these guidelines at any time by a majority vote.

In order to achieve a rate of return that will support the spending policy while protecting the assets from inflation, the Foundation must be willing to assume some investment risk. The most effective way to establish an appropriate risk level for the Fund is through its asset allocation (i.e. stocks, bonds, and cash).

Reporting Requirements

It is expected that the investment manager(s) responsible for the investment of assets shall report quarterly on the performance of the portfolio, including comparative returns for the funds and their respective benchmarks. Quarterly reporting should include a complete accounting of all transactions involving the funds during the quarter, together with a statement of beginning market value, fees, capital appreciation, income and ending market value, for each account. In addition, the investment managers should meet with the Committee at least annually.

This policy was reviewed by the GGC Foundation Board of Trustees on March 26, 2014.

 

7.77 GGC Foundation Document Retention and Destruction Policy

Reviewed May 26, 2016

Purpose

This Document Retention Policy (“Policy”) is issued by the Board of Trustees (“Board”) of the Georgia Gwinnett College Foundation (“Foundation”) to address our statutory, governance and administrative requirements. Specifically, it will ensure that we are in compliance with federal and state laws and best practices for similar 501(c)(3) private foundations, while providing guidance for effective and practical document management. It is the policy of the Board to review these goals and objectives at least once per year and to communicate any material changes. It is the intention to follow the Board of Regents Document Retention Policy as closely as feasible. With this in mind, any updates to the Board of Regents Document Retention Policy will supersede this Policy’s schedule.

Goal

The goals of this policy are to:

  1. Retain important documents for reference and future use;
  2. Delete documents that are no longer necessary for the proper functioning of the Foundation;
  3. Organize important documents for efficient retrieval; and
  4. Ensure that the Foundation knows what documents should be retained, the length of their retention, means of storage, and when and how they should be destroyed.

“Documents” discussed herein refers to all business records of the Foundation, including written, printed, and recorded materials, as well as electronic records (i.e. emails and documents saved electronically). All business documents shall be retained for a period longer than necessary for the proper conduct and functioning of the Foundation.

The Document Retention schedule is attached at the end of this Policy.

Management

To ensure compliance with this Policy the Board’s designated individual(s) are responsible for the following oversight functions:

  1. Implementing the Policy;
  2. Ensuring that individuals are properly educated, understand, and follow the Policy’s purpose;
  3. Providing oversight on actual retention and destruction of documents;
  4. Periodically following-up with counsel to ensure proper retention periods are in place;
  5. Ensuring the proper storage of documents;
  6. Suspending the destruction of documents upon foreseeable litigation; and
  7. Keeping the Board and appropriate individuals apprised of changes in relation to the Policy.

Storage

Tangible Records
Tangible records are those in which you must physically move to store, such as paper records. Active records that need to be easily accessible may be stored in the Foundation’s office space. Inactive files can be sent to the Foundation’s storage room on campus or sent to an off-site storage facility.

Electronic Records
Information kept in an electronic format is stored on Foundation hard drives, which are then backed-up on central servers.

Electronic mail is stored and maintained by the College’s OET division.

Destruction/Deletion

Tangible Records
Tangible records should be destroyed by shredding or some other means that will render them unreadable.

Electronic Records
Deleting files and emptying the recycling bin is usually sufficient in most circumstances to get rid of a record. However, because electronic records can be stored in many locations, The College’s OET division will be responsible for permanently removing deleted files from the computer system.

Where duplicate records are involved, all copies must be destroyed/deleted where proper.

Cessation of Record Destruction/Deletion

If a lawsuit is filed or imminent, or a legal document request has been made upon the Foundation, ALL RECORD DESTRUCTION MUST CEASE IMMEDIATELY. The Board may suspend this Policy to require that documents relating to the lawsuit or potential legal issue(s) be retained and organized. A critical understanding of this section is imperative. Should you fail this protocol, the individual and the Foundation may be subject to fines and penalties, among other sanctions.

DOCUMENT RETENTION AND DESTRUCTION SCHEDULE

CATEGORY RESPONSIBILITY

RETENTION PERIOD

REFERENCE
BOARD OF TRUSTEES
Election Records President PERMANENT BOR - USG, “Records Retention Manual”, (A39)
Meeting Agendas President PERMANENT BOR - USG, “Records Retention Manual”, (A39)
Minutes of Meetings President PERMANENT BOR - USG, “Records Retention Manual”, (A39)
Corporate Resolutions President PERMANENT BOR - USG, “Records Retention Manual”, (A39)
Executed Consents President PERMANENT BOR - USG, “Records Retention Manual”, (A39)
Actions President PERMANENT BOR - USG, “Records Retention Manual”, (A39)
Waivers of Notice President PERMANENT BOR - USG, “Records Retention Manual”, (A39)
Record of Officers/Members President PERMANENT BOR - USG, “Records Retention Manual”, (A39)

DONOR RELATIONS (GIFT RECORDS / AWARDS / FUNDRAISING / DONATED GOODS AND SERVICES)

CATEGORY RESPONSIBILITY

RETENTION PERIOD

REFERENCE
Grants Executive Director of Corporate and Foundation Relations PERMANENT BOR - USG, “Records Retention Manual”, (I17)
       
Awards, Fellowships and Scholarships Associate Vice President for Development    

Award history and information on funding sources

  PERMANENT BOR - USG, “Records Retention Manual”, (A10)

Biographies

  PERMANENT BOR - USG, “Records Retention Manual”, (A10)

Eligibility terms and selection criteria

  PERMANENT BOR - USG, “Records Retention Manual”, (A10)

Letters of award notification or denial

  PERMANENT BOR - USG, “Records Retention Manual”, (A10)

Press releases

  PERMANENT BOR - USG, “Records Retention Manual”, (A10)

Summary list of winners

  PERMANENT BOR - USG, “Records Retention Manual”, (A10)

Applications

  1 year BOR - USG, “Records Retention Manual”, (A10)

Demonstration of need documentation

  1 year BOR - USG, “Records Retention Manual”, (A10)

Letters accepting or declining awards

  1 year BOR - USG, “Records Retention Manual”, (A10)

Nomination Letters

  1 year BOR - USG, “Records Retention Manual”, (A10)

Recommendations

  1 year BOR - USG, “Records Retention Manual”, (A10)

Related documentation and correspondence

  1 year BOR - USG, “Records Retention Manual”, (A10)

Transcripts

  1 year BOR - USG, “Records Retention Manual”, (A10)
       
Gifts and Pledges Associate Vice President for Development    

Letters and agreements of gifts

  PERMANENT BOR - USG, “Records Retention Manual”, (A23)

Copies of bequest instruments and wills from individuals or estates

  PERMANENT BOR - USG, “Records Retention Manual”, (A23)

Related documentation and correspondence

  PERMANENT BOR - USG, “Records Retention Manual”, (A23)

Award guidelines

  7 years BOR - USG, “Records Retention Manual”, (A23)

Records of fund disbursements

  7 years BOR - USG, “Records Retention Manual”, (A23)
       
Correspondence      

Records documenting communication with government agencies, vendors and the public pertaining to fiscal policy, obligations and revenue

Each Functional Manager PERMANENT BOR - USG, “Records Retention Manual”, (M4)

Emails, voicemails, calendars

GGC Managed by GGC  

FINANCIAL RECORDS

CATEGORY RESPONSIBILITY RETENTION PERIOD REFERENCE
Determination Letter from the IRS Chief Financial Officer PERMANENT Best Practice, Private Foundation
Annual Reports (Audited) Chief Financial Officer PERMANENT BOR - USG, “Records Retention Manual”, (M3)
Form 990 Tax Returns Chief Financial Officer PERMANENT Best Practice, Private Foundation
Investment Records (Except where noted elsewhere) Chief Financial Officer PERMANENT Best Practice, Private Foundation
Accounting Records (Except where noted elsewhere) Chief Financial Officer PERMANENT Best Practice, Private Foundation
Chart of Accounts Chief Financial Officer PERMANENT Best Practice, Private Foundation
Trial Balance Chief Financial Officer PERMANENT Best Practice, Private Foundation
Tax payments Chief Financial Officer PERMANENT Best Practice, Private Foundation
Fixed Asset Detail Chief Financial Officer PERMANENT Best Practice, Private Foundation
Depreciation schedule Chief Financial Officer PERMANENT Best Practice, Private Foundation
Bond Payments Chief Financial Officer PERMANENT Best Practice, Private Foundation
Account Reconciliations Chief Financial Officer 7 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M8)
General and Subsidiary Ledger Chief Financial Officer 7 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M6)
Check Payment Records Chief Financial Officer 7 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M15)
Accounts Receivable Ledger Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M11)
Accrual worksheets Chief Financial Officer 3 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M39)
Miscellaneous Accounting Records Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M7)
Budgets Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M27)
Bank Statements Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M41)
Petty Cash Records Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M31)
Canceled Checks Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M14)
Accounts Receivable Records Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M11)
Accounts Payable Records Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M10)
Development and Endowment Management Fee Records Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M5)
Travel Records Chief Financial Officer 5 years after Fiscal YE BOR - USG, “Records Retention Manual”, (M23)

LEGAL RECORDS

CATEGORY RESPONSIBILITY RETENTION PERIOD REFERENCE
Articles or Restated Articles of Incorporation and all Amendments Chief Financial Officer PERMANENT O.C.G.A. § 14-3-1601
Bylaws and Restated Bylaws and all Amendments currently in effect. Chief Financial Officer PERMANENT O.C.G.A. § 14-3-1601
Litigation President PERMANENT Best Practice, Private Foundation
Court orders President PERMANENT Best Practice, Private Foundation
Business Licenses and Permits Chief Financial Officer PERMANENT Best Practice, Private Foundation
Governmental Audit and Compliance Chief Financial Officer PERMANENT BOR - USG, “Records Retention Manual”, (A5)
Contracts
Formal Bid and Competitive Selection Records Chief Financial Officer 11 Years after Substantial Completion of Project BOR - USG, “Records Retention Manual”, (A46)
Contracts and Agreements Records Chief Financial Officer 10 Years after expiration BOR - USG, “Records Retention Manual”, (N11)
Insurance Policies Chief Financial Officer 7 Years after expiration BOR - USG, “Records Retention Manual”, (M38)
Signature Authorizations Chief Financial Officer 7 years after authorization expires Best Practice, Private Foundation
Crisis or Disaster Records Chief Financial Officer 5 years BOR - USG, “Records Retention Manual”, (A17)

PROPERTY RECORDS

CATEGORY RESPONSIBILITY

RETENTION PERIOD

REFERENCE
Capital Construction Project Records Chief Financial Officer PERMANENT BOR - USG, “Records Retention Manual”, (N7)
Building Space Inventory and Valuation Records Chief Financial Officer PERMANENT BOR - USG, “Records Retention Manual”, (A61)
Real Property Records Chief Financial Officer 11 Years after Disposition BOR - USG, “Records Retention Manual”, (N12)
Real Property Appraisals Chief Financial Officer 11 Years after Disposition BOR - USG, “Records Retention Manual”, (A116)
Inspection Records Chief Financial Officer 10 years BOR - USG, “Records Retention Manual”, (J18)
Equipment Inventory Records Chief Financial Officer 5 Years after Disposition BOR - USG, “Records Retention Manual”, (N1)
Equipment Maintenance Records Chief Financial Officer 5 Years after Disposition BOR - USG, “Records Retention Manual”, (A45)

This policy was reviewed by the GGC Foundation Board of Trustees on March 26, 2014.

 

7.78 GGC Foundation Gift In-Kind Policy

Reviewed May 26, 2016

Purpose

Gifts-in-kind support the mission of Georgia Gwinnett College and enhance the quality of the education offered to the students at GGC. Donors of gifts-in-kind have a significant impact on the future of education at GGC. One of the primary goals of this policy and the following procedures is the appropriate stewardship of these important donors. This policy conforms to Georgia Board of Regents Policy Manual. In cases of inconsistency, Board of Regents policy takes precedence.

Most gifts-in-kind can be reported immediately upon receipt via the completion of the Gift-in-Kind Acceptance Form, which may be obtained from the Office of Development. However, the following types of gifts-in-kind require written approval from the Gift Acceptance Committee: 1) gifts that obligate the College or the Foundation to expenditures for which there is no established funding source; 2) gifts that require construction/renovation of facilities not previously authorized by the College; or 3) gifts that substantially increase the liability or risk to the College or the Foundation. This approval must be received prior to acceptance of the gift from the donor.

Gifts-in-Kind with a Value More Than $5,000

All gifts-in-kind from individuals and all gifts that require special expertise to establish the value, e.g. works of art, horses, etc., with a value more than $5,000 must include an appraisal executed by a qualified independent appraiser. The appraisal cannot be made earlier than 60 days prior to the date of the gift. If the value of the gift in the appraisal is listed as a range of values, the gift will be booked at the midpoint of the range of values.

In most cases, gifts-in-kind that are produced or manufactured by the corporation or other business making the contribution and that have a value more than $5,000 must include an itemized inventory list, an invoice, or letter from the vendor/donor, or published information on the value of the items. Gifts of equipment and software should be booked at the educational discount value - the value the College would have paid had the equipment or software been purchased from the vendor.

Gifts-in-Kind with a Value Between $250 and $5,000

Written documentation provided by the donor is required to establish the value of the gift for all gifts-in-kind. Any gift-in-kind with a value in the range of $100 to $5,000 that is not accompanied by the required documentation from the donor will be recorded on the College’s gift record system at a nominal value ($1). Any other estimated value will be used for recognition credit only.

Gifts-in-Kind with a Value Under $250

GGC has established a minimum value for gifts-in-kind to be recorded on the College’s gift record system. Gifts-in-kind with a total value of less than $250 will not be processed by the Office of Development. The department or program accepting the gift is encouraged to acknowledge the gift, but no gift-in-kind paperwork is required.

Special Types of In-Kind Contributions

Real Estate: All gifts of Real Estate must be reviewed by the Gift Acceptance Committee.

Software: All gifts of software are subject to the following policies and procedures:

  • The Gift-in-Kind Acceptance Committee will review all gifts of software with a value of
  • $10,000 or more prior to official acceptance and will make a recommendation regarding the recorded values.
  • Gifts of software will be recorded at the educational discount value established in writing by the donor. If no educational discount is available, it must be so stated in written communication from the donor and the established retail value will be used.
  • The donor must irrevocably transfer ownership of the software to the institution and this transfer of ownership must be documented in written communication from the donor. If use of the software license must be renewed at a later date, the transaction is not a gift.
  • A gift of software can only be counted in the year that the gift is originally given. If free upgrades are given at a future date which have a higher established retail value, then the difference between the new retail value (less educational discount) and the original retail value (less educational discount) is countable as an additional gift.
  • For gifts of software, the Gift-in-kind Form must be submitted to the Office of Development along with appropriate documentation of the gift including:
    • A letter from the donor on company letterhead documenting the dollar value of the software, including a statement of the educational discount value if it is available; letter must verify that the donor is irrevocably transferring ownership of the software given to the College.
    • A specific description of the software including the number and type of licenses (individual license, site license, etc.) and the stated value for each license;\
    • A copy of the gift agreement and all related documents;
    • A statement of the planned administrative, academic or research use for the software.

Patents, Trademarks, and Other Technology Rights: All gifts of patents, trademarks, and other technology rights are subject to the following policies and procedures:

  • The Gift Acceptance Committee will review all contributions of patents, trademarks, and other technology rights prior to official acceptance.
  • The GGC Foundation will be the donee for all gifts of patents, trademarks, and other technology rights.
  • Gifts of patents, trademarks, and other technology rights will be recorded at a nominal value ($1) for both legal and recognition credit. Per CASE recommendations, income generated in the future as a result of these gifts can be counted as it comes in. No pledge should be entered in anticipation of such income.
  • The donor is expected to pay the recordation fees in the appropriate copyright and patent offices associated with the transfer of the patent, trademark, or other technology rights to the GGC Foundation. If the donor does not agree to cover this cost, the dean of the college in which the patents, trademarks, and other technology rights will be used must resolve responsibility for the recordation fees.
  • The donor is also expected to make a cash contribution that will cover the cost of renewing the donated patent, trademark, and technology rights. If the donor does not agree to cover this cost, the dean of the college in which the patents, trademarks, and other technology rights will be used must resolve responsibility for all renewal expenses.

Contributed Services: Per CASE guidelines, FASB guidelines, and IRS regulations contributed services are not considered charitable contributions and will not be included in the College’s annual fund-raising totals. However, contributed services are eligible for recognition credit if the services received (a) create or enhance non-financial assets or (b) require specialized skills, are provided by individuals possessing those skills, and would typically need to be purchased if not provided by donation. Services requiring specialized skills are provided by accountants, architects, carpenters, doctors, electricians, lawyers, nurses, plumbers, teachers, and other professionals and craftsmen. Contributions of broadcast time and newspaper space are also considered contributed services and are eligible for recognition credit only. Reporting contributed services on the Gift-in-Kind Acceptance Form will enable the College to give recognition credit to the contributor of the service.

Items Not Considered Charitable Contributions: Per CASE guidelines, FASB guidelines, and IRS regulations, the following types of in-kind contributions are not considered charitable contributions and will not be included in the College’s annual fund-raising totals:

  • Use of real property
  • Discounts on purchases
  • Costs of appraisal
  • Shipping costs
  • Sales tax
  • Permanent Loan: Property given to GGC as a permanent loan will not be booked as a gift.

Additional Information on Gifts-in-Kind

A faculty or staff member at GGC should be listed as the recipient of the gift-in- kind on the Gift-in-Kind Acceptance Form. If students are involved in receiving the gift, the faculty or staff member who is both overseeing the work of the students and taking responsibility for the gifts received will be the appropriate person to list on the form.

Qualified Appraisal

A qualified appraisal must include the following information:

  • A description of the property in sufficient detail for a person who is not generally familiar with the type of property to determine that the property appraised is the property that was contributed.
  • The physical condition of any tangible property.
  • The date (or expected date) of the contribution.
  • The terms of any agreement or understanding entered into (or expected to be entered into) by or on behalf of the donor that relates to the use, sale, or other disposition of the donated property.
  • The name and address of the qualified appraiser. Must include disclosures of any conflicts of interest regarding any affiliation with the donor or the contributed property.
  • The qualifications of the qualified appraiser who signs the appraisal, including the appraiser’s background, experience, education, and membership in professional appraisal associations.
  • The date (or dates) on which the property was valued.
  • The appraised fair market value on the date (or expected date) of contribution.
  • The method of valuation used to determine the fair market valuation.
  • The specific basis for the valuation, such as any specific comparable sales transactions.

Qualified Appraiser

A qualified appraiser is an individual who declares on the appraisal summary that he or she:

  • Holds himself or herself out to the public as an appraiser or performs appraisals on a regular basis.
  • Is qualified to make appraisals of the type of property being valued because of his or her qualifications described in the appraisal.
  • Is not an excluded individual (see below)
  • Understands that an intentionally false overstatement of the value of property may subject him or her to the penalty for aiding and abetting an understatement of tax liability.

Excluded Individuals

The following persons cannot be qualified appraisers with respect to particular property:

  • The donor of the property or the taxpayer who claims the deduction.
  • The donee of the property.
  • A party to the transaction in which the donor acquired the property being appraised, unless the property is donated within two months of the date of acquisition and its appraised value does not exceed its acquisition price. This applies to the person who sold, exchanged, or gave the property to the donor, or any person who acted as an agent for the transferor or donor in the transaction.
  • Any person employed by, married to, or related to any of the above persons.

Use of Real Property

A contribution of the right to use real property will not be booked as a charitable contribution. The use of a conference room at a hotel for a faculty retreat at no charge or the use of a home for a visiting faculty member at no charge would be examples of this type of non-charitable contribution.

Bargain Sale

A bargain sale refers to the sale of the donor’s property to GGC where the sale price less than the property’s fair market value. The excess of the fair market value of the property over the sale price will be booked as a gift. A bargain sale is not the purchase of inventory at a reduced price; this transaction would be considered a discount on the purchase - not a charitable contribution. The following items are included in a company’s inventory:

  • Merchandise or stock in trade
  • Raw materials
  • Work in process
  • Finished products
  • Supplies that physically become a part of the item intended for sale

Gift-in-Kind Acknowledgements

Gift acknowledgement letters and tax receipts for gifts-in-kind will describe the property given and will not include the estimated cash value or the appraised value of the gift. All donors making in-kind contributions $250 and above will receive an official acknowledgement from the Office of Development that includes the description of the gift and the gift designation.

This policy was reviewed by the GGC Foundation Board of Trustees on March 26, 2014.

 

7.79 GGC Foundation Reinvestment And Management Fee Policy

Reviewed May 26, 2016

The Georgia Gwinnett College Foundation assesses a one-time fee to gifts and other revenue received. This fee is used by the foundation to invest in fundraising operations allowing the organization to raise even more financial support for Georgia Gwinnett College students, faculty, programs and facilities. The fee also allows the Foundation to properly manage and steward the assets entrusted to the organization by its donors and depositors.

Standard Reinvestment Fee

The following reinvestment fee policy and details apply to all gifts and other revenue of $1 million or less:

  • Fee is 5% of total gift or other revenue, or $1.00, whichever is higher.
  • All gift or other revenue types are subject to the fee (cash, securities, pledges, real/personal property, deferred gifts, program or event registration, sponsorship, etc.). Gifts-in-kind (personal property retained and used by the college) are excluded from the fee as no cash is realized by the foundation.
  • Fee is collected upon the cash realization of the gift or other revenue (e.g., pledge payment, proceeds upon sale of property, proceeds upon maturation of a charitable remainder trust).
  • Fee may be waived by the Finance Committee if such a fee is not allowed by another Foundation granting a gift to the Foundation.
  • Endowment - For endowment gifts, the reinvestment fee is set up as a payable in the spendable fund. One-half of each quarterly spendable transfer is used to reduce the gift fee payable until the reinvestment fee is repaid in full.

Gifts or Other Revenue in Excess of $1 million

For gifts or other revenue in excess of $1 million, the above policy applies except for the adjustment of the fee amount based on the following sliding scale:

  • For the first $1 million received, the fee is 5%.
  • For the next $4 million received (between $1 and $5 million), the fee is 3%.
  • For any amount in excess of $5 million, no reinvestment fee is assessed.

For these purposes, a gift is defined as a commitment as of a specific date to one or more accounts maintained by the Georgia Gwinnett College Foundation. An additional gift or other revenue to a specific account at a later date will be considered to be a separate gift or other revenue for reinvestment fee determination purposes.

The sliding scale reinvestment fee does not apply to realized deferred gifts, which are subject to the full 5% fee regardless of the gift amount.

Example

Sally Doe makes a $10 million pledge to the School of Business payable over five years. The following reinvestment fees will be assessed.

5% on the first $1 million received = $50,000
3% on the next $4 million received = $120,000
No gift fee on the remaining $5 million received
Total reinvestment fee = $170,000

In this example, an effective reinvestment fee of 1.7% is applied to Ms. Doe’s $10 million pledge.

Standard Management Fee

The following management fee policy and details apply to all permanently and pending endowed funds:

Annual fee is 1% of the fund value. Fund value is calculated as of 3/31 by averaging the last four quarters for the first three years after their first distribution. After the third year of the first distribution, the annual fee will be based upon the average of the last twelve quarters (rolling market average for smoothing purposes).

At no time will the funds be spent from the corpus (original gift amount, additional gifts received after original gift and any capital gains that the Committee has elected to add to the gift balance) or will any unrestricted funds be used to make up for declines in market value that affects the corpus.

If funds are not available, the management fee for the following year will be reduced down to zero, if necessary, and no further distribution will be made until the Fund sufficiently recovers.

Spending policy annual draw takes a higher funding priority when determining available funds.

This policy was revised by the GGC Foundation Board of Trustees on March 17, 2015.

 

7.80 GGC Foundation Tax-Exempt Debt Policy

Reviewed May 26, 2016

Objective

To comply with all applicable federal and state laws, rules and regulations related to the issuance of tax-exempt debt (the “Debt”).

Scope

This policy (the “Policy”) applies to all Debt issued for the benefit of Georgia Gwinnett College Foundation, Inc. (the “Foundation”) and its related entities.

Policy

The Foundation shall comply with all federal and state laws, rules and regulations related to the issuance of Debt.

Responsibility

The President of the Foundation (“President”) shall be administratively responsible for the Policy. The President shall be responsible for reviewing the requirements and responsibilities of the Foundation under the Policy with bond counsel on or before the closing date of any Debt issued by the Foundation.

Dissemination and Training

The Policy shall be disseminated to all personnel in the finance department and to the auditor.

The President shall provide appropriate training to all personnel directly involved in the administration of tax-exempt debt to ensure they comply with the provisions of the Policy. The President shall consult as appropriate with qualified attorneys with respect to the content of such training.

Review

The Policy shall be reviewed and revised annually by the President and redistributed to all personnel in the finance department and to the auditor.

The President shall annually conduct a due diligence review of all Debt currently outstanding to ensure proper compliance with each of the provisions of the Policy. If the President discovers noncompliance with any provisions of the Policy, steps necessary to correct the noncompliance will be taken within ten (10) business days of the conclusion of the annual due diligence review. Records of all corrective action taken shall be retained in accordance with the Policy.

Provisions

Use of Proceeds

A list of all property financed with the proceeds of the Debt shall be created and maintained. The use of such property shall be monitored to ensure that such use does not constitute “private business use” within the meaning of the Code. Without limiting the foregoing, each contract, including but not limited to management contracts and leases, relating to such property shall be reviewed by legal counsel prior to the execution of such contract. The list of property shall be reviewed at least annually to ensure that none of the property has been sold.

Remedial Action

In the event that property financed with the proceeds of the Debt is used in a manner that constitutes “private business use” or the property is sold, the remediation provisions of Treasury Regulation § 1.141-12 shall be carried out in consultation with bond counsel.

Yield Restriction

If bond counsel advises that a fund or account needs to be yield restricted (i.e., not invested at a yield in excess of the Debt), the moneys on deposit in such fund or account shall be invested in United States Treasury Obligations - State and Local Government Series, appropriate “yield reduction payments” shall be made if permitted by the Code or the President shall establish other procedures to ensure that such fund or account is yield restricted.

Rebate

At the time the Debt is issued, the President shall determine if he or she reasonably expects that one of the arbitrage rebate exceptions will be satisfied. If the arbitrage rebate exception relates to the time period over which the proceeds of the Debt are spent, the President shall verify that the appropriate expenditures have been made at each milestone. If one of the milestones is not satisfied or the President does not reasonably expect that one of the arbitrage rebate exceptions will be satisfied, an outside arbitrage rebate consultant shall be retained unless the President has determined that positive arbitrage will not be earned.

Private Use and Management Agreements

It is the Foundation’s intention not to engage in transactions that create the private use of facilities or assets financed or refinanced with the Debt (the “Financed Facilities”). The Foundation will not sell or lease or permit the sale or lease of all or any portion of the Financed Facilities, or enter into a management agreement or other similar agreement with respect to all or any portion of the Financed Facilities, or otherwise dispose of or transfer control of all or any portion of the Financed Facilities without receiving an opinion from Bond Counsel that such action will not adversely affect the tax-exempt status of any Debt issued for the benefit of the Foundation.

The President will educate all individuals who manage and/or use the Financed Facilities regarding the applicable private use guidelines.

All agreements/contracts, including but not limited to research contracts, related to Financed Facilities will be reviewed by the Foundation’s counsel and Bond Counsel to determine if they comply with the applicable private use safe harbor guidelines (the “Safe Harbor”). The Foundation’s counsel and/or Bond Counsel shall provide written advice to the person responsible for the Policy as to whether or not the agreements/contracts comply with the Safe Harbor.

The Foundation will identify all the Financed Facilities on its fixed asset ledger (the “Ledger”).

The Foundation will review annually any and all use of Financed Facilities by private businesses, which use may arise as a result of entering into leases, management contracts, research arrangements or other arrangements, to determine if such use complies with the Safe Harbor.

Unrelated Trade or Business Income

The Foundation will conduct an annual review of its activities to ensure that it is not engaging in activities that would result in “unrelated trade or business income” that would jeopardize its 501(c)(3) status. Furthermore, the Foundation will review annually any and all use of Financed Facilities to ensure that such use does not result in unrelated trade or business income.

Average Life of Assets Financed/Refinanced with Tax-Exempt Debt Proceeds

The Foundation shall identify the expected economic life of the Financed Facilities on the Ledger to ensure that the average maturity of the related Debt does not exceed the average life of the Financed Facilities by more than twenty percent (20%).

Fundraising

If fundraising moneys are received for the Financed Facilities, such moneys will be invested at a yield not in excess of the yield on the related Debt or will be used promptly to redeem the related Debt.

Record Retention

The Foundation will retain all records relating to Debt it issues in order to comply with Section 6001 of the Internal Revenue Code. These records should include, among other things, the following:

  1. Basic records relating to the tax-exempt debt (including the trust indenture, loan agreements, and bond counsel opinion);
  2. Documentation evidencing expenditure of debt proceeds;
  3. Documentation evidencing use of debt-financed property by public and private sources (i.e. copies of management contracts and research agreements);
  4. Documentation evidencing all sources of payment or security for the debt;
  5. Documentation pertaining to any investment of debt proceeds (including the purchase and sale of securities, SLGs subscriptions, yield calculations for each class of investments, actual investment income received, the investment of proceeds, guaranteed investment contracts and rebate calculations);
  6. Form 1023, Application for Recognition of Exemption under Section 501(c)(3) of the Internal Revenue Code;
  7. 501(c)(3) Determination Letter;
  8. IRS Correspondence related to tax status;
  9. Organizing Documents;
  10. Letter Exempting the Company from Form 990 requirements;
  11. Audited Financial Statements;
  12. Bond transcripts, officials statements and other offering documents;
  13. Minutes and resolutions authorizing issuance;
  14. Certifications of the issue price of debt financings;
  15. Formal elections for debt financings (e.g. election to employ an accounting methodology other than specified tracing);
  16. Appraisals, demand surveys or feasibility studies for debt-financed property;
  17. Documents related to government grants associated with construction, renovation or purchase of debt-financed facilities;
  18. Publications, brochures and newspaper articles for debt financings;
  19. Trustee statements;
  20. Correspondence related to debt financing; and
  21. Reports of any prior IRS examinations or organization or debt financings.

All such records must be maintained as long as the debt is outstanding, plus three years after the final payment and redemption date.

This policy was approved by the GGC Foundation Board of Trustees on March 4, 2014.

 

7.81 GGC Foundation Credit Card Policy

Reviewed May 26, 2016

Note: This policy supersedes any and all previous policies or policy drafts regarding the Foundation’s credit card activities.

Purpose of a Foundation Credit Card

The Georgia Gwinnett College Foundation (“Foundation”) issues credit cards (“Card”) to allow the executive leadership of Georgia Gwinnett College (“GGC”), the Foundation and their approved assigns the flexibility to use their Foundation-budgeted funds in support of both organizations’ needs in situations or circumstances that require immediate payment to 1) purchase goods or services, or 2) to secure a financial commitment or down payment for future goods or services.

Usage of the Card should be limited to activities where a traditional prior-approved expenditure, invoice, and payment-on-terms cannot be arranged in advance.

Guidelines for Issuance

  1. The initial credit limit and changes to credit limits for each Card issued are established and approved by the Foundation’s President or their designee based on projected need and comparable experience. Input of such need may be requested of the GGC executive for such determination.
  2. Personal credit checks of the cardholder may be required, initially or subsequent to issuance.
  3. Each cardholder will be required to sign a “Credit Card Acknowledgement Form” to maintain cardholder privileges. Failure to sign this form will result in loss of Card privileges.
  4. Criteria for Card eligibility:
    1. An AVP level or above executive of GGC who has Foundation-budgeted dollars under their approval.
    2. An executive assistant of such executive with that executive’s approval.
    3. Other direct reports of executive who are approved by the Foundation’s President or designee in advance of issuance.
    4. An executed Credit Card Acknowledgement Form signed by 1) the employee, 2) a GGC executive (if different from #1), and 3) the Foundation’s President or designee.

Payment Approval Hierarchy

  1. Charges Incurred by GGC Executives, Assistants and Other Approved Employees
    1. Initial Approval: Executive approves their own or their subordinates’ charges.
    2. Final Approval: Foundation President or designee
  2. Charges Incurred by Foundation President
    1. Initial Approval: Foundation President
    2. Final Approval: Foundation Chief Financial Officer

Note: This reverse-hierarchy approval is consistent with many public corporations where the two senior-most executives, e.g. the CEO and CFO, authorize each other’s expenditures.

Limitations of Use

  1. All charges on the Card should be in compliance with the “GGCF Fund Disbursement Policy”.
  2. The Card shall not be used for personal or GGC-eligible expenses. Personal charges are strictly prohibited. The only exception would be where such personal use cannot be separately charged from a Foundation-eligible expense.
    1. Such circumstances should be rare.
      1. When it is not possible to separate personal or GGC-eligible expenses, the cardholder is responsible for accurately and clearly identifying and substantiating the amount of charges attributable to the Foundation. That substantiation must be included with the receipts that are submitted to the Foundation for the current month’s payment.
      2. Reimbursement for GGC-Eligible Expenses - The cardholder will notify the Foundation of any reimbursement requests for GGC-eligible expenses as soon as possible so that the Foundation can prepare an invoice to GGC. The cardholder will process that invoice with the proper GGC payment request form so that the Foundation can be quickly reimbursed.
      3. Reimbursement for Personal Use Where Business Use Cannot Be Separated - The cardholder must reimburse the Foundation for the amount of personal charges in one of the following forms: 1) cash, 2) personal check, 3) money order, or 4) bank check. Such reimbursement must occur prior to the current due date of the Card payment.

Corrective Actions for Unapproved Use

Any misuse or abuse of the Card may result in immediate termination of the cardholder’s Card privileges. The Foundation President or designee may, at their sole discretion, terminate the cardholder’s Card privileges.

After all reasonable attempts to collect reimbursement are exhausted, any unreimbursed personal charges may be pursued by the Foundation via all legal means necessary, including but not limited to an invoice to GGC (with a corresponding deduction from the employee’s payroll) or a lawsuit for collection of any outstanding debts plus court and collection costs.

Useful Life of Card Privileges

The Foundation President or designee will periodically review the Card program and, at their sole discretion, may terminate an individual Card that is deemed no longer meeting the business needs of the Foundation.

Deviations from this Policy

The Foundation President holds final decision-making authority on all compliance matters for this policy, and may override any and all of its guidelines when necessary to meet the mission and the obligations of the Foundation.

Such deviations should be documented and substantiated and placed in the Foundation’s permanent Credit Card Policy file for future reference, inquiries and audits.

 

7.82 GGC Foundation Cash Mangement Policy

Reviewed May 26, 2016

Purpose

This Cash Management Policy (“Policy”) is issued by the Board of Trustees (“Board”) of the Georgia Gwinnett College Foundation (“Foundation”) for the guidance of the Finance Committee (“Committee”), the investment manager(s) of the Foundation’s non-endowed funds (“Fund”), and other fiduciaries, in the course of investing the monies of the Fund. This Policy is intended to set forth an appropriate set of goals and objectives for the Fund’s assets and to define guidelines within which the investment manager(s) may formulate and execute their investment decisions. The Board may amend this Policy both upon their own initiative and upon consideration of the advice and the recommendations of the Committee, investment manager(s) or Fund professionals. It is the policy of the Committee to review these goals and objectives at least once per year and to communicate any material changes to the investment manager(s).

Objectives

The Foundation should maintain an effective system of cash management that anticipates cash needs and plan adequately to satisfy them. Cash is required to pay for all assets and services purchased by the Foundation and to meet all future obligations as they come due. The Foundation should also be prepared for unanticipated cash outflows that may occur. This disbursement of cash, therefore, is a regular occurrence, and a sufficient level of cash should be kept available to meet these known and unanticipated requirements. However, cash is not a productive asset as it earns no return. Therefore, only cash necessary to meet anticipated day-to-day expenditures plus a reasonable cushion for emergencies should be kept available. Any excess cash should be invested. The main objective of this policy is to minimize idle cash in the hands of the Foundation.

Cash Forecast

The Foundation will prepare an analysis of historical and forecast data to determine anticipated cash flow patterns to provide a basis for reasonable expectations on needed liquidity and provide a measure to the amount of idle cash. Using this forecast a determination can be made to the amount, liquidity and maturity levels of idle cash so investments can be planned and invested. This plan should be updated at least quarterly, monthly or weekly if needed, so the most accurate data can be considered in the analysis.

Investment Objective and Goals

The investment objective of the Fund is to seek maximum total return consistent with the preservation of principal, diversification, and avoidance of excessive risk while maintaining sufficient liquidity to meet operational requirements. The Committee will exercise reasonable care, skill and caution with regard to the Fund in the context of the entire portfolio which incorporates risk and return objectives reasonably suitable to the purposes of the Foundation. The Fund shall be diversified in such a manner as prudence would indicate. It is the intention of the Board that the assets of the Fund be managed in a manner that complies and is consistent with the provisions of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) enacted by the State of Georgia. The purpose of the diversification is to provide reasonable assurance that no single security will have a significant negative impact on the market value of the total Fund.

To facilitate investment of idle cash, funds should be categorized into four main areas based on the timeframe the funds are needed for operational requirements.

Short-Term Funds

Short-term funds are treated as funds that may be needed for operational requirements on a moment’s notice. The primary goal for this type of investment would be very high levels of liquidity with minimal risk. Types of investments for this category include, but are not limited to, overnight sweep accounts and money market accounts.

Medium-Term Funds

Medium-term funds include funds that may be required for use within the next three (3) to twelve (12) months. Due to the much higher predictability, the Committee can accept longer-term maturities with moderate levels of volatility that have somewhat higher returns on investment. Types of investments for this category include, but are not limited to, investments listed for Short-Term Funds, plus certificate of deposits and US Treasuries.

Long-Term Funds

Long-term funds include funds for which there is no current planned operational use, and which the Committee feels can be safely invested for at least one year. The goal of this group will focus more in favor of a higher return on investment, with potential for higher levels of volatility and perhaps short-term capital loss, with a reduction in the level of liquidity. Investment options for this group include, but are not limited to, the options listed for Short-Term and Medium-Term Funds plus the Pooled Investment Program of the Board of Regents (BOR) and investment with the Community Foundation of Northeast Georgia (CFNEG).

To minimize market risk, funds should not be moved to the CFNEG or the BOR plan, excluding the BOR Short Term Fund, unless the funds will not be needed for at least a minimum of seven (7) years without the Committee’s approval.

Trustee Held Funds

Funds held by a Trustee as part of the indenture agreements with the various bond holdings of the Foundation, should be invested in such a way as to maximize the rate of return as allowed in the various bond loan agreements and indenture agreements. The various bond holdings of the Foundation contain certain proforma assumptions that require certain investment income minimums that must be maintained.

Return on Investment

Unless otherwise directed by the Committee, interest and income from investments will be recorded as unrestricted and used in the annual operating budget of the Foundation. The Committee will strive to maximize earnings as much as possible. However, due to the timeframe of needed liquidity, return on investment may not keep pace with inflation.

Investment Management

The Fund is overseen by the Committee whose responsibilities in the area of investment administration are as follows:

  • To recommend policies to the Board for the management of investments,
  • To make recommendations to the Board on the selection of an investment manager(s),
  • To determine how assets are allocated,
  • To monitor the management of the Fund in order to enhance return and control risk and to keep the Board fully informed of any material changes in the portfolio value or composition,
  • To evaluate the performance of the investment manager(s) for the purpose of retention or dismissal.

The investment manager’s performance shall be compared regularly with the performance of the appropriate equity or fixed income market indices, performance of peers, industry benchmarks and other reasonable performance guidelines. The investment manager will be responsible for custody of securities. If the investment manager does not generally offer custodial services, the Committee shall name a custodian. All purchases of securities will be for cash and there will be no margin transactions or short selling.

If at any time during the management of the portfolio, a realized loss of ten (10) percent or more against the total Fund value is realized, the investment manager shall notify the Committee within two (2) business days of the realized loss.

Investment Guidelines

For long-term funds invested with the CFNEG, the asset allocation percentage guideline shall be defined and managed by the CFNEG. For long-term funds invested with the BOR Pooled Investment Program, the asset allocation percentage guidelines shall be defined and managed by the BOR Pooled Investment Program. The Committee may modify these guidelines at any time by a majority vote.

Reporting Requirements

It is expected that the investment manager(s) responsible for the investment of assets shall report quarterly on the performance of the portfolio, including comparative returns for the funds and their respective benchmarks. Quarterly reporting should include a complete accounting of all transactions involving the funds during the quarter, together with a statement of beginning market value, fees, capital appreciation, income and ending market value, for each account. In addition, the investment managers should meet with the Committee at least annually.

 

7.83 GGC Foundation Code Of Conduct

Reviewed May 26, 2016

Note: This policy supersedes any and all previous policies or policy drafts regarding the Georgia Gwinnett College Foundation Code of Conduct.

Introduction

The mission of the Georgia Gwinnett College Foundation (the “Foundation”) is the management of assets and provision of volunteer leadership for the long-term enhancement of Georgia Gwinnett College (the “College”). In carrying out this mission, the Foundation is committed to the highest ethical and professional standards of conduct for College-related foundations. This Code of Conduct is divided into three parts, a Compliance Plan, Conflicts of Interest Policy and Public Information Policy. Together they describe the standards that guide the Foundation’s trustees, volunteers and staff in carrying out their duties and responsibilities on behalf of the Foundation.

Compliance Plan

The purpose of this Code of Conduct is to evidence the Foundation’s commitment to the lawful and ethical conduct of the Foundation’s business and to promote lawful and ethical behavior by the Foundation and its trustees, employees and volunteers. This Compliance Plan, which is part of the Code of Conduct, is designed to promote:

  • The Foundation’s ethical values described in this Code of Conduct
  • Compliance with all applicable laws, regulations and policies
  • Individual accountability for compliance with the Code of Conduct
  • Prompt reporting of concerns regarding violations of the Code of Conduct

Compliance with Laws and Policies

The Foundation and its trustees, employees and volunteers (the “Foundation community”) shall transact Foundation business in compliance with all laws, regulations and Foundation and College policies applicable to their positions and areas of responsibility. No member of the Foundation community shall take any action on behalf of the Foundation which violates any such law, regulation or policy. Any person who needs assistance understanding his or her obligations under this Compliance Plan should seek advice from the Foundation’s President or the Foundation’s Finance and Audit Committee Chair.

Reporting Suspected Violations or Concerns

The Foundation’s compliance efforts are focused on informing the Foundation community of the Foundation’s expectations for ethical behavior in the transaction of Foundation business. Despite these efforts, violations may occur or members of the Foundation community may have concerns about matters that they are not sure represent violations. Each member of the Foundation community has a duty to report violations or concerns about violations of this Code of Conduct that come to his or her attention.

How to Report a Violation or to Discuss a Concern

Any violations, concerns or questions about this Code of Conduct should be reported to the President of the Foundation, the person charged with overseeing this Compliance Plan, via telephone (678) 407-5588, or in writing delivered to the Foundation’s President, Georgia Gwinnett College Foundation, 1000 University Center Lane, Lawrenceville, GA 30043. Alternatively, an individual may contact the Foundation’s Finance and Audit Committee Chair to report his or her concerns. Reports may be made anonymously, if desired, but under no circumstances will the Foundation tolerate any retaliation against an individual for reporting violations or concerns pursuant to the procedures of this Compliance Plan.

Responding to Concerns

The Foundation takes all concerns and possible violations of this Code of Conduct seriously and will investigate each report. If the Foundation determines there have been violations of this Code of Conduct, appropriate corrective or disciplinary action will be taken.

Conflicts of Interest

The purpose of the Foundation’s Conflicts of Interest Policy is to protect the Foundation and its trustees, volunteers and staff when the Foundation is considering a transaction or agreement that might benefit a member of the Foundation community.

The policy identifies the types of transactions that might raise conflict of interest concerns, sets forth an annual procedure for the disclosure of actual or potential conflicts and provides for the review of potential conflicts by independent members of the Foundation’s board.

Public Information

Introduction

The Foundation is committed to upholding and preserving the public trust and the trust and expectations of its donors and employees. This Public Information Policy sets out the Foundation’s practices regarding disclosure of information held by it and how the Foundation will make public information available. As an organization devoted to the management of assets for the long-term enhancement of the College, the Foundation believes that information held by it should be as open to public review as possible, while still respecting the privacy rights of its donors, prospective donors and employees.

The Policy

The purpose of this Public Information Policy is to facilitate public access to information regarding the mission and activities of the Foundation. This Policy reflects Foundation’s commitment to transparency in its operations and the disclosure of public information in a prompt and convenient manner. Most information is available at the Georgia Gwinnett College Foundation’s office, 1000 University Center Lane, Lawrenceville, GA 30043. However, for legal and privacy reasons, the Foundation does not disclose donors’ or prospective donors’ personal and financial records, certain portions of employees’ personnel records, information protected from public disclosure by O.C.G.A. §50-18-72 or information protected by the attorney-client and attorney work product privilege.

Information Available

Documents created, obtained or maintained in conjunction with the Foundation’s mandatory filings with the Internal Revenue Service and other federal or state agencies are available to the public. These include:

Annual Information Return (IRS Form 990). As required by federal law, the Foundation makes available copies of its IRS Form 990 for the current and prior two years. The Form 990 details revenue, expenses and changes in net assets. The Form 990 also provides a snapshot of the major activities performed by the Foundation during the previous year, and lists the Foundation’s trustees, officers and key employees.

Request for Tax-Exempt Status (IRS Form 1023). In addition to its annual filing and retention of IRS Form 990, the Foundation also keeps on record for public inspection its tax determination letter, which details the Foundation’s request and basis for tax-exempt status.

Copies of IRS Form 990 and Form 1023 will be made available by request from the President of the Foundation upon completion of the tax year and after the appropriate forms have been filed.

Administrative Information

Most information concerning the internal structure and workings of the Foundation is also available to the public. This information includes:

Articles of Incorporation. The Foundation is a private, nonprofit corporation incorporated under Georgia’s Nonprofit Corporation Code on May 9, 2006. Pursuant to the Nonprofit Code, the Foundation has filed its articles of incorporation with the Georgia Secretary of State. This document is available from the Foundation’s President or on the Foundation’s website. This document contains basic information regarding the organizational framework of the Foundation, including its governance structure.

Bylaws. The Foundation’s bylaws are also available from the Foundation office. The bylaws describe the process for the election of the officers and trustees, their duties, responsibilities and terms of office, and information about meetings and committee structure. This document is available from the Foundation’s President or on the Foundation’s website.

Memorandum of Understanding Between the Foundation and the Board of Regents of the University System of Georgia. The relationship between the Foundation and the Board of Regents and College is documented in a Memorandum of Understanding. A copy of this agreement can be obtained from the Foundation’s office or by contacting the President of the Foundation.

Minutes of the Meetings of the Foundation Board of Trustees. The meetings of the Foundation’s Board and Committees are open to the public, except for limited situations pursuant to Georgia’s Open Meetings Act, and the minutes of these meetings are taken to document the discussions and actions which take place. Copies of the Foundation’s minutes are available from the office of the President of the Foundation.

Conflicts of Interest Policy. The Foundation endeavors to operate according to the highest ethical standard and expects its trustees, employees and volunteers to carry out their duties in accordance with this standard. In keeping with non-profit best practices, Foundation officers and trustees are required to execute a conflicts of interest statement and confidentiality agreement annually. The Foundation’s Conflicts of Interest Policy is also available from the Foundation President.

Committee Charters. The Foundation has adopted Committee Charters which set forth the precise functions of the various Board Committees established pursuant to the Foundation’s Bylaws. Copies of these Charters are available from the office of the President of the Foundation.

Financial Information

The following financial information is voluntarily made public to provide donors, members of the Foundation community and the general public information on the Foundation:

Audited Financial Statements. The Foundation will make available for public inspection its audited financial statements for the previous three fiscal years. These statements include the Foundation’s statement of financial position, statement of activities, changes in net assets and cash from the previous year. Financial Statements will be available by contacting the President of the Foundation as they are completed.

Annual Report. The Foundation intends to produce an informational annual report to include a financial statement, summary of assets, sources of gifts and a list of members of the Foundation’s Board of Trustees, and other such information as space permits.

Fundraising and Stewardship Information

The Foundation’s fundraising-related information is summarized in the Foundation’s general financial information as described above. In addition to the general information contained in those materials, the Foundation will voluntarily make available for public review the following more specific information:

Gift Acceptance Policy. The Foundation has developed policies and procedures regarding the acceptance of gifts for the benefit of the College. These policies, which provide objective procedures for analyzing and accepting gifts by the Foundation, are available from the President of the Foundation.

Guidelines for Named Gifts. The Foundation adheres to the rules and regulations of the Board of Regents, University System of Georgia regarding naming opportunities for gifts. These provide guidance to prospective donors, the College and the Foundation staff regarding the size and structure of gifts necessary to attain various levels of named recognition. In addition, minimum endowment funding levels for other non-capital gifts have been set to ensure endowed funds are sufficient in size to support the desired purposes. Additional information is available from the Foundation President.

Foundation Investment Information

The Foundation has the flexibility to invest its assets in a variety of ways. Information on the Foundation’s investments is available from the Foundation’s President. Specific information available includes:

The Foundation’s Investment Policy Statement. The Foundation Finance and Audit Committee develops, and the Board of Trustees approves an Investment Policy for the Foundation. A copy of this Policy is available from the Foundation President.

The Foundation’s Investments. A summary of the Foundation’s investment portfolio will be made available as part of IRS Form 990. , and the Foundation will make every effort to answer specific questions regarding Foundation investments. All questions regarding Foundation should be directed to the Foundation President, or to the Chair of the Finance and Audit Committee of the Board of Trustees.

Constraints on Disclosure

While every effort is made to keep constraints to a minimum, legal and privacy concerns necessarily place some limits on complete openness. In an effort to be as open as possible, the Foundation’s practice is to detail the central principles for non-disclosure of certain types of information in order to ensure that a specific, clear and necessary reason is articulated when information is not disclosed.

Privacy Constraints

The Foundation respects the privacy concerns of donors (including prospective donors) and has adopted Policies and Procedures for handling donor information (a copy of which is available by contacting the President of the Foundation). If a donor expresses a desire for anonymity, the Foundation will not disclose such donor’s name or gift amount, nor will it disclose other private donor information entrusted to it, except where required by law. Examples of private information include personal financial records, wills and trust documents. It is only with the donor’s consent that the Foundation discloses biographical information for non-College-related purposes. The type of information the Foundation would not disclose is:

Private Information. The Foundation does not disclose private information. For purposes of this Policy, “private information” is information of a personal and sensitive nature that is not generally available from third-party sources and that, if disclosed, would violate legal or ethical obligations of the Foundation to a donor (or prospective donor) or an employee. This information includes, but is not limited to, confidential donor information and employee personnel records.

Biographical Information of Donors Who Desire Privacy. The Foundation only discloses donor biographical information for non-College related purposes after obtaining the donor’s consent.

Personal Information Regarding Employees. The Foundation maintains appropriate, and in many cases legally-mandated, safeguards to protect the confidentiality of individual staff records and personal medical information.

Review Procedures for Information Requests

It is the Foundation’s goal to make reasonable accommodations for those who wish to examine publicly available information held by the Foundation. Accordingly, the Foundation adheres to the following guidelines:

Information Coordinator

The President of the Foundation is the primary information coordinator of the Foundation. All requests for access to information available for public review will be directed to the President, who will provide guidance on interpretation of this Policy and arrange for access to the requested information which is available for public review.

The Foundation will make every effort to assist an organization or an individual in obtaining requested information, but for administrative and legal reasons it cannot be obligated to create a record that does not exist at the time of the request.

Requests for information will be processed in a reasonable length of time as required by applicable law.

Cost of Producing Requested Information

If an information request requires the retrieval and reproduction of documents a per-page fee will be charged in most cases. To ensure that the fee is appropriate, the Foundation will set the per-page fee taking into account the full internal and external costs needed to produce the requested information. These costs will include, but are not limited to: research, redaction, overhead, retrieval, preparation, reproduction, shipping and handling, and/or labor-related costs. In addition, the Foundation shall charge a fee to recover the cost of the staff and professional time needed to respond to any information request. All fees shall be paid by the requesting party to the Foundation prior to receipt of requested information. Copies of the Foundation’s IRS Forms 990 and 1023 are readily available by contacting the President of the Foundation.

Documents not Covered by the Policy

To the extent the Foundation receives requests for information not accounted for in this Policy, the Foundation’s President will evaluate such requests within a reasonable time and determine whether the requested information can be disclosed consistent with this Policy. Absent a specific, clear and necessary constraint on disclosure, the Foundation shall voluntarily disclose the requested information.

Protection of Privacy

This Policy sets forth the Foundation’s practices with respect to disclosure of information. To the extent it is inconsistent with federal or state law, including Georgia’s Open Records Act, or an agreement with a donor, such law or agreement shall prevail in determining the propriety of disclosure. The Foundation further protects individual privacy rights by requiring that all Foundation trustees and staff members annually sign a confidentiality agreement.

Applicability; Defined Terms

This Code of Conduct applies to the following individuals: (1) Foundation trustees; (2) Foundation employees; and (3) individuals who perform volunteer services for or on behalf of the Foundation.

For the purposes of this Code of Conduct:

  • The terms “Georgia Gwinnett College Foundation” and “Foundation” means the Georgia Gwinnett College Foundation for Georgia Gwinnett College
  • The term “Board of Trustees” means the Board of Trustees of the Foundation.
  • The term “College” means the Georgia Gwinnett College.
  • The term “Georgia Gwinnett College Foundation employees” or “employees” means (a) all individuals employed and compensated by the Foundation, (b) all individuals employed and compensated by the College which compensation from the College is reimbursed, in whole or in part, by the Foundation, and (c) all individuals employed and compensated by the College whose job responsibilities include work on behalf of the Foundation.
  • The term “trustees” means all members of the Board of Trustees, including those members who are officers of the Board of Trustees.

This policy was reviewed by the GGC Foundation Board of Trustees on March 8, 2016.

 

7.84 GGC Foundation Whistleblower Policy

Reviewed May 26, 2016

General

The Georgia Gwinnett College Foundation (“the Foundation”) Code of Conduct (“Code”) requires directors, officers and employees to observe high standards of business and personal ethics in the conduct of their duties and responsibilities. As employees and representatives of the Foundation, we must practice honesty and integrity in fulfilling our responsibilities and comply with all applicable laws and regulations.

Reporting Responsibility

It is the responsibility of all directors, officers and employees to comply with the Code and to report violations or suspected violations in accordance with this Whistleblower Policy.

No Retaliation

No director, officer or employee who in good faith reports a violation of the Code shall suffer harassment, retaliation or adverse employment consequence. An employee who retaliates against someone who has reported a violation in good faith is subject to discipline up to and including termination of employment. This Whistleblower Policy is intended to encourage and enable employees and others to raise serious concerns within the Foundation prior to seeking resolution outside the Foundation.

Reporting Violations

The Code addresses the Foundation’s open door policy and suggests that employees share their questions, concerns, suggestions or complaints with someone who can address them properly. In most cases, an employee’s supervisor is in the best position to address an area of concern. However, if you are not comfortable speaking with your supervisor or you are not satisfied with your supervisor’s response, you are encouraged to speak with the Foundation’s Compliance Officer. Supervisors and managers are required to report suspected violations of the Code of Conduct to the Foundation’s compliance officer, who has specific and exclusive responsibility to investigate all reported violations. For suspected fraud, or when you are not satisfied or uncomfortable with following the Foundation’s open door policy, individuals should contact the Foundation’s compliance officer directly.

Compliance Officer

The Foundation’s compliance officer is responsible for investigating and resolving all reported complaints and allegations concerning violations of the Code and, at his discretion, shall advise the board chair and/or the finance committee. The compliance officer has direct access to the finance committee of the board of trustees and is required to report to the finance committee at least annually on compliance activity. This report should be reflected in the Finance Committee minutes. The Foundation’s compliance officer is the president of the Foundation.

Accounting and Auditing Matters

The finance committee of the board of trustees shall address all reported concerns or complaints regarding corporate accounting practices, internal controls or auditing. The compliance officer shall immediately notify the finance committee of any such complaint and work with the committee until the matter is resolved.

Acting in Good Faith

Anyone filing a complaint concerning a violation or suspected violation of the Code must be acting in good faith and have reasonable grounds for believing the information disclosed indicates a violation of the Code. Any allegations that prove not to be substantiated and which prove to have been made maliciously or knowingly to be false will be viewed as a serious disciplinary offense.

Confidentiality

Violations or suspected violations may be submitted on a confidential basis by the complainant or may be submitted anonymously. Reports of violations or suspected violations will be kept confidential to the extent possible, consistent with the need to conduct an adequate investigation.

Handling of Reported Violations

The compliance officer will notify the sender and acknowledge receipt of the reported violation or suspected violation within five business days. All reports will be promptly investigated and appropriate corrective action will be taken if warranted by the investigation.

Foundation Hotline Reporting

Individuals who wish to contact the Foundation by phone to report an alleged violation may do so by contacting the GGC Foundation at the following number: 678-407-5021.

Review Procedures

This policy should be reviewed and updated, if necessary, annually. This review and update should be documented in the Board of Trustee meeting minutes. The meeting minutes should also reflect that the Board is aware and understands the policy.

Foundation Compliance Officer

Ms. Lori M. Buckheister, President

GGC Foundation Management Staff

Ms. Lori M. Buckheister, President

Mr. Ronald Patrick, Chief Financial Officer

 

7.85 GGC Foundation Conflict of Interest Policy

Reviewed May 26, 2016

Introduction

The Board of Trustees of the Georgia Gwinnett College Foundation (the “Foundation”) has adopted this Conflict of Interest Policy (the “Policy”) to provide guidance to the Board of Trustees (“Trustees”) and Officers of the Foundation in situations where there might be a potential financial or personal conflict, or the appearance of such a conflict, between the outside interests of a Trustee or Officer and the obligations such person owes to the Foundation in his or her capacity as a Trustee or Officer. This Policy is intended to be consistent with the provisions of the Georgia Nonprofit Corporation Code’s conflict of interest provisions contained in O.C.G.A. §14-3-860 et seq. (the “Statute”). However, to the extent that this Policy imposes a higher standard of conduct on an Officer or Trustee of the Foundation than the Statute, the higher standard contained in this Policy shall prevail.

Policy

Trustees and Officers of the Foundation are expected:

  1. To avoid conflicts between their personal interests or other significant business interests and the interests of the Foundation;
  2. To disclose any personal interest or other significant business interest that may conflict with the interest of the Foundation;
  3. To refrain from voting or otherwise influencing a decision of the Foundation on any matter in which such a conflict exists;
  4. To avoid the misuse of nonpublic information, acquired as a Trustee or Officer, for personal gain or for the benefit of any entity or person with respect to which or whom a conflict of interest would exist if this policy were otherwise applicable to said entity or person; and
  5. To refrain from soliciting or accepting for personal use of the benefit of any entity or person with respect to which or whom a conflict of interest would exist is this policy were otherwise applicable to said entity or person any gift, loan, reward, promise of future employment or anything else having a value of $1,000 or more.

A conflict of interest shall exist when (A) any Trustee or Officer of the Foundation is an employee, officer, director, trustee, stockholder (more than 1% of the outstanding shares) or partner in, or an attorney for or other significant service provider or product supplier of, (i) a closely-held, non-publicly traded corporation or other such entity, or (ii) a publicly traded corporation or other such entity, and (B) such entity does, or proposes to do, any financial transaction with the Foundation involving the exchange of anything having a value of $1,000 or more. A conflict of interest may exist under other circumstances as set forth in item (1) in the first sentence.

Any conflict of interest on the part of any Trustee of Officer of the Foundation, or any member of the immediate family of a Trustee or Officer (spouse and children, including adult children) or anyone occupying the same household as the Trustee of Officer, shall be disclosed by the Trustee or Officer of the Foundation promptly, as soon as the conflicting relationship is established, and thereafter, at least annually, as long as it exists; such disclosure shall be made a matter of record with the Secretary. Further, when any such interest becomes relevant to any subject requiring action of the Board of Trustees, the Trustee or Officer having a conflict shall call it to the attention of the President and the Board Chair, and, if the matter is being considered by a committee of the Board, also to the attention of the chair of such committee.

The Trustee or Officer having such conflict shall not participate or use any personal influence in the discussion of the subject or make any recommendations regarding the subject. However, the Trustee or Officer will briefly state the nature of the conflict and will be expected to answer pertinent questions from the other Trustees and Officers when the Trustee’s or Officer’s knowledge of the subject will assist the Board. The minutes of any meeting at which the subject involving the conflict is discussed shall reflect that a disclosure was made and that the conflicted Trustee or Officer did not vote on the subject. The President of the Foundation annually, and at other times on request from any Trustee or Officer, shall make available to the Trustees and Officers of the Foundation copies of this Policy and forms for disclosing conflicts. Any Trustee or Officer may request a determination from the Board as to the existence of a conflict of interest. The Board’s decision, by majority vote, shall bind the Trustee and the Board. The President of the Foundation will review the annual disclosures and report to the Board on any conflicts of interest disclosed. This report will be included in the Board minutes.

All proposed nominees for Board membership shall be advised of this policy and must state their willingness to abide by it as a condition of being nominated.

Upon learning that a Trustee or Officer may have willfully violated the provisions of this Policy, the Board shall form an independent Committee of Trustees to investigate such violation. Upon receipt of such Committee’s report, the Board (excluding the Trustee or Officer whose actions are being investigated) shall take such corrective action or remedial action as it deems appropriate, including exoneration, censure or request for resignation.

Disclosure of Interest  

 

7.86 GGC Foundation Fund Distribution Policy

Reviewed May 26, 2016

Note: This policy supersedes any and all previous policies or policy drafts regarding the Georgia Gwinnett College Foundation disbursement activities.

Purpose of Policy

The purpose of this policy is to establish guidelines for determining accountable uses for Georgia Gwinnett College Foundation (“Foundation”) funds. The Foundation is a charitable corporation (501(c)(3) organization which receives and administers private contributions made in support of Georgia Gwinnett College (“College”). Contributions to the Foundation are acknowledged as tax deductible to donors under the Internal Revenue Code.

All disbursements of funds must be consistent with the intention of the donor and mission of the College and have a bona fide business purpose. Funds received are classified according to two general groups for administrative purposes, each of which requires different administrative processes for approval of expenditures. However, the general policies apply for all disbursements, regardless of additional restrictions placed upon donor-restricted funds.

In administering Foundation funds, all individuals must ensure that purchases are reasonable as defined by IRS standards, which means that payments are similar to those paid by like enterprises for the same or similar services and that all expenditures are approved based on the established signing authority.

  1. Restricted Funds
    1. Any restriction imposed by the donor on the use of funds will be strictly observed. Questions concerning the specific application of a donor-imposed restriction will be resolved by consultation with the donor where possible. If donor cannot be consulted, questions will be resolved by the officers of the Foundation.
    2. Restricted funds include funds received for endowment, endowed scholarships and non-endowed scholarships, and special-purpose funds for projects/schools.
    3. Scholarships/Fellowships/Assistantships: These types of financial aid are categorized either as an award or as compensation. Money will be disbursed for any of these purposes unless the donor intent or restrictions specifically exclude the use of funds for one of these categories. The Foundation will not make payments directly to students. The Foundation will transfer the funds to the College for payment through Student Financial Aid or Contracts & Grants.
    4. Other Restricted Funds: Gifts, grants and bequests made for specific purposes must be rigorously administered by the Budget Manager and Approving Authority to ensure that such funds are used solely for purposes prescribed by the donor. It is recommended that the Budget Manager and Approving Authority maintain a record of donor restrictions for each fund to assist in compliance.
  2. Unrestricted Funds
    1. Unrestricted funds may be spent for a broad range of purposes. The basic criteria for the legitimate use of Foundation funds must be followed as well as the general disbursement policies. Disbursements from unrestricted funds are made through an annual operating budget approved by the Board of Trustees of the Foundation and must be used for the purpose specified in the approved budget.

General Disbursement Policies

These are the basic criteria that determine the legitimate use of Foundation funds.

  1. The Foundation is a not-for-profit organization established to solely support the College. All disbursements must illustrate the benefits to the College.
  2. The use of the funds must be consistent with the purpose of the fund.
  3. The use of the funds must fall within the donor’s intent for the gift.
  4. The use of the funds must be reasonable and customary.
  5. The use of the funds must not jeopardize the Foundation’s tax-exempt status.
  6. The use of the funds must comply with all applicable statutes, regulations, IRS code and Foundation policy.
  7. The use of the funds must not benefit the campaign of any candidate for public office
  8. The use of the funds must not be paid for, or inure to, the personal benefit of an individual.
  9. All policies and procedures for disbursement of either restricted or unrestricted funds are subject to review and modification by the President of the Foundation on behalf of the Board of Trustees. Such modifications must be noted in writing and are ultimately accountable to the Board of Trustees.

All funds shall be administered with due regard to conditions attached to the gift and governing statutes and rules, in accordance with what is reasonable and equitable, and lastly, in the manner in which persons of ordinary prudence would act in the management of the property of another. In accordance with Foundation policy, all disbursements are subject to public disclosure upon receipt by the Foundation of an appropriate written request.

All disbursements must have written justification suitable for auditing purposes generally through use of the Prior Approval for Foundation Funding Form (Form ADV 2.0). Other forms of justification may be appropriate under certain circumstances as approved by the President of the Foundation.

The Foundation will not pre-pay an invoice unless there is an express written requirement for pre-payment. If a pre-payment is required, there should be an accompanying proviso for refunds and cancellation.

All reimbursements and disbursements are made from the original documentation. If the original documentation is not available, a certification is required indicating the reason the original invoice is not available and that the obligation is not and has not been paid by any other source. No personal expenditures should be on receipts submitted for reimbursement.

The following guidelines govern disbursements:

  1. The Foundation President is charged with the responsibility of ensuring that the use of funds is consistent with the purpose of the fund, falls within the donor’s intent for the gift, is reasonable and benefits the College, will not jeopardize the Foundation’s tax-exempt status, and complies with all applicable statutes and regulations.
  2. The Foundation will submit to the President of the College for review requests for any disbursement believed to be in excess of reasonable standards or inappropriate in some other way. The President of the College will provide justification that these expenses were incurred for the benefit of the College.
  3. Deadline on Reimbursements - Reimbursements will only be processed for expenditures that are no older than 60 days, unless otherwise approved by signature of the Foundation President.
  4. The Foundation makes every attempt to process disbursement requests or reimbursement request within 10 days. The Foundation cannot guarantee to any person that payment will be made on a rush basis. Please plan ahead so that urgent situations are avoidable.
  5. Payments to Independent Contractors - Services Rendered
    1. Payments for services must be made directly to the individual who performs the service. An IRS Form 1099 will be issued by the Foundation to the recipient for income tax purposes.
    2. Requests for payments for services must be accompanied by an invoice for services rendered, and/or a copy of a contract or a letter of agreement. As determined by the Foundation President, an independent contractor may be required to produce a certificate of insurance is required before the work begins.
    3. All contracts for goods and services must be signed by the Foundation President or Chief Administrative Officer.
  6. Taxable Events - Cash or monetary awards to individuals may require a 1099 form to employees depending on the circumstance. Acting on behalf of the Chair of the Foundation, the President has the ultimate authority to determine the applicability of such taxable issues.
  7. Gifts
    1. No gift shall be reimbursed from a fund where the recipient of the gift is the Budget Manager without the approval of the Foundation President, or his/her designee.
    2. No gift shall be reimbursed where the purchaser and receiver of the gift is the same person.
    3. The Foundation follows Internal Revenue Code in regard to quid pro quo items for donors to Georgia Gwinnett College. The Foundation is required to document with the donor the “contribution” value of donations received. The contribution value is equal to the amount received by the Foundation less the fair-market value of goods and services given to the donor in return for his or her donation. The IRS has established Safe Harbor rules via IRS Publication 1771, which is updated annually with inflation-adjusted insubstantial value thresholds. Goods and services that have a fair market value below those insubstantial value thresholds do not reduce contribution value. Please refer to IRS Pubs. 1771 and 526 for current guidelines.
    4. In regard to prospective donors, the IRS does not provide for specific dollar values that can be expended in solicitation of a contribution.

Specific types of expenditures

Contracts

The Foundation in general, follows the College policy regarding the engagement of contractors for the provision of goods and services.

The Foundation Chief Financial Officer has the authority to sign contracts up to $10,000; The Foundation President has the authority to sign contracts up to $250,000. All contracts in excess of $250,000 require Foundation Finance Committee review and approval prior engagement.

Contributions

No Foundation funds may be donated to organizations external to the College except where a nominal contribution is made is lieu of flowers for funeral services or in honor of an individual important to the College.

Dues/membership fees

Dues and fees for institutional memberships in organizations related to college affairs should be paid from state funds when possible. Dues and fees for individual membership in college related or professional organizations should be paid from state funds when possible.

Dues and membership fees for individual membership in civic service or private clubs may be paid from Foundation funds where such memberships are deemed necessary for business purposes. The Foundation President will approve in advance which fees are deemed necessary for business purposes.

Certification fees and fees for licenses to practice a profession related to the college or foundation should be paid with state funds when possible.

Employee incentives/awards

Employee incentives and awards are permitted, as long as they meet legitimate goals for providing employee incentives and are made available in compliance with IRS requirements. Incentive/award activities over $500 per individual, per year must receive prior approval from the Foundation’s Chief Financial Officer or the Foundation President.

Supplies

Disbursements for supplies should include only those items needed that cannot be paid with state funds.

Travel Using Foundation Funds

  1. Business Purpose and Justification: A Georgia Gwinnett College Prior Travel Approval Form must be completed and approved before the trip begins in order to receive reimbursement for the trip. The Prior Approval Form must contain justification, business purpose, and dates of travel. Upon completion of the trip, the request for travel reimbursements must include a statement of the benefits of the trip to the College and/or the Foundation. The Foundation does not reimburse for first class travel, except in circumstances approved by the President.
  2. When travel is to a foreign country, the conversion rate used to calculate the reimbursement must be included with the request. The calculation should show the date of the transaction, given that there are daily fluctuations in the monetary exchange rates. An acceptable source can be found at http://www.oanda.com /converter/classic.
  3. Requests for reimbursement for travel must comply with IRS regulations. A completed Expense Sheet must be submitted. It is important to judge all expenditures in light of our responsibility to our donors.
  4. Lodging: Lodging includes the cost of the room, applicable taxes, and hotel parking. Any additional costs on a hotel bill, such as meals, will require separate justification. Generally, movies, laundry, mini-bar or hotel amenity expenses are not reimbursed by the Foundation.
  5. Mileage: Mileage will be reimbursed at the Federal per diem rate, currently in effect. Gas expenses in lieu of mileage will be reimbursed only when a state- or Foundation- owned vehicle or rental vehicle is used for the trip.
  6. Meals While on Business Travel: Meals incurred while traveling on business is reimbursable. The Foundation will pay the per diem rates based on Federal Guidelines.
  7. Business Meals Including Guests: Business meals including guests may be reimbursable if College and/or Foundation business is conducted at the meal. The expense report must include names, date and amount.
  8. If meals are reimbursed by the college on a per diem basis and the Foundation pays for the meals, the individual will reimburse the Foundation the per diem received from the College.

Expenditures NOT Normally Approved for Reimbursement

This list is not intended to be all-inclusive, only to provide examples of the most frequently rejected expense reimbursements/payments. The Foundation Office should be contact on instances in which reimbursement is unclear before incurring the expense or service.

  1. First class travel (unless circumstances mandate).
  2. Salary payments (salary payments are transferred to and paid through the College).
  3. Scholarships to a named individual (funds are transferred to the College and payments are made through Student Financial Aid).
  4. College parking decals.
  5. Fines, traffic tickets, parking tickets, impound and/or towing fees.
  6. Salary advances.
  7. Travel advances.
  8. Entertainment not related to college or foundation business.
  9. Credit card application fees.
  10. Furniture, subscriptions, and other related items for home office.
  11. Non-work related magazines or books.
  12. Dry cleaning or Hotel Laundry.
  13. Family, spouse or other individuals’ expenses not employed by the college and not official business of the college – please separate these expenses from receipt before requesting reimbursement.
  14. Campaign contributions to organizations with political affiliations.
  15. Expenses not supported with receipts/invoices and that do not clearly state purpose/benefit for incurring the expense, except as approved by the President of the Foundation or his designee.
  16. Tipping what is beyond customary (beyond 20%)
  17. Expenses incurred during personal emergencies, medications, personal care items.
  18. Other expenses that appear to be “personal perks” with no benefit to the College or the Foundation.

Authority and Responsibilities

The following sets forth the responsibility and authority of the Chief Financial Officer and President of the Foundation to administer funds of the Foundation and the guidelines for making disbursements.

  1. The Foundation President is ultimately accountable to the Foundation Finance Committee Chair for all disbursements. The Foundation President may delegate to “budget managers” as necessary to disburse funds within their respective divisions and as approved in their respective budgets. In the absence of the delegated budget managers, the appropriate Vice President may approve fund disbursements within their respective budgets.
  2. Any payments over $250,000 must be countersigned by the Foundation Finance Committee Chair. These payments will require a minimum of 15 days to process, except as approved under special circumstances by the President of the Foundation.
  3. Individuals receiving disbursements from Foundation funds may not self-approve their own disbursements. These disbursements must be approved by the budget manager of their respective department or the President of the Foundation. In the absence of either the budget manager of the unit or the President, an individual may use a budget manager from another unit to approve a request for disbursement. Budget units of the college may develop additional control policies.
  4. The Budget Manager must keep track of funds under their delegation and be responsible to ensure there are sufficient monies to cover disbursements. Requests from funds with insufficient available balances will be returned without processing.
  5. The Executive Committee of the Board of Trustees of the Foundation is the final authority on the disbursement of Foundation funds.

The Foundation Office is available to answer questions on the appropriateness of any expenditure. The Foundation reserves the right to deny any request that is deemed contrary to public scrutiny.

Specific Types of Expenditures

Contracts

The Foundation in general, follows the College policy regarding the engagement of contractors for the provision of goods and services.

The Foundation Chief Administrative Officer has the authority to sign contracts up to $10,000; The Foundation President has the authority to sign contracts up to $250,000. All contracts in excess of $250,000 require Foundation Finance Committee review and approval prior engagement.

Contributions

No Foundation funds may be donated to organizations external to the College except where a nominal contribution is made is lieu of flowers for funeral services or in honor of an individual important to the College.

Dues/membership fees

Dues and fees for institutional memberships in organizations related to college affairs should be paid from state funds when possible. Dues and fees for individual membership in college related or professional organizations should be paid from state funds when possible.

Dues and membership fees for individual membership in civic service or private clubs may be paid from Foundation funds where such memberships are deemed necessary for business purposes. The Foundation President will approve in advance which fees are deemed necessary for business purposes.

Certification fees and fees for licenses to practice a profession related to the college or foundation should be paid with state funds when possible.

Employee incentives/awards

Employee incentives and awards are permitted, as long as they meet legitimate goals for providing employee incentives and are made available in compliance with IRS requirements. Incentive/award activities over $500 per individual, per year must receive prior approval from the Foundation’s Chief Administrative Officer or the Foundation President.

Supplies

Disbursements for supplies should include only those items needed that cannot be paid with state funds.

Travel Using Foundation Funds

  1. Business Purpose and Justification: A Georgia Gwinnett College Prior Travel Approval Form must be completed and approved before the trip begins in order to receive reimbursement for the trip. The Prior Approval Form must contain justification, business purpose, and dates of travel. Upon completion of the trip, the request for travel reimbursements must include a statement of the benefits of the trip to the College and/or the Foundation. The Foundation does not reimburse for first class travel, except in circumstances approved by the President.
  2. When travel is to a foreign country, the conversion rate used to calculate the reimbursement must be included with the request. The calculation should show the date of the transaction, given that there are daily fluctuations in the monetary exchange rates. An acceptable source can be found at http://www.oanda.com /converter/classic.
  3. Requests for reimbursement for travel must comply with IRS regulations. A completed Expense Sheet must be submitted. It is important to judge all expenditures in light of our responsibility to our donors.
  4. Lodging: Lodging includes the cost of the room, applicable taxes, and hotel parking. Any additional costs on a hotel bill, such as meals, will require separate justification. Generally, movies, laundry, mini-bar or hotel amenity expenses are not reimbursed by the Foundation.
  5. Mileage: Mileage will be reimbursed at the Federal per diem rate, currently in effect. Gas expenses in lieu of mileage will be reimbursed only when a state- or Foundation- owned vehicle or rental vehicle is used for the trip.
  6. Meals While on Business Travel: Meals incurred while traveling on business is reimbursable. The Foundation will pay the per diem rates based on Federal Guidelines.
  7. Business Meals Including Guests: Business meals including guests may be reimbursable if College and/or Foundation business is conducted at the meal. The expense report must include names, date and amount.
  8. If meals are reimbursed by the college on a per diem basis and the Foundation pays for the meals, the individual will reimburse the Foundation the per diem received from the College.

Expenditures NOT Normally Approved for Reimbursement

This list is not intended to be all-inclusive, only to provide examples of the most frequently rejected expense reimbursements/payments. The Foundation Office should be contact on instances in which reimbursement is unclear before incurring the expense or service.

  1. First class travel (unless circumstances mandate).
  2. Salary payments (salary payments are transferred to and paid through the College).
  3. Scholarships to a named individual (funds are transferred to the College and payments are made through Student Financial Aid).
  4. College parking decals.
  5. Fines, traffic tickets, parking tickets, impound and/or towing fees.
  6. Salary advances.
  7. Travel advances.
  8. Entertainment not related to college or foundation business.
  9. Credit card application fees.
  10. Furniture, subscriptions, and other related items for home office.
  11. Non-work related magazines or books.
  12. Dry cleaning or Hotel Laundry.
  13. Family, spouse or other individuals’ expenses not employed by the college and not official business of the college – please separate these expenses from receipt before requesting reimbursement.
  14. Campaign contributions to organizations with political affiliations.
  15. Expenses not supported with receipts/invoices and that do not clearly state purpose/benefit for incurring the expense, except as approved by the President of the Foundation or his designee.
  16. Tipping what is beyond customary (beyond 20%)
  17. Expenses incurred during personal emergencies, medications, personal care items.
  18. Other expenses that appear to be “personal perks” with no benefit to the College or the Foundation.

Authority and Responsibilities

The following sets forth the responsibility and authority of the Chief Administrative Officer and President of the Foundation to administer funds of the Foundation and the guidelines for making disbursements.

  1. The Foundation President is ultimately accountable to the Foundation Finance Committee Chair for all disbursements. The Foundation President may delegate to “budget managers” as necessary to disburse funds within their respective divisions and as approved in their respective budgets. In the absence of the delegated budget managers, the appropriate Vice President may approve fund disbursements within their respective budgets.
  2. Any payments over $250,000 must be countersigned by the Foundation Finance Committee Chair. These payments will require a minimum of 15 days to process, except as approved under special circumstances by the President of the Foundation.
  3. Individuals receiving disbursements from Foundation funds may not self-approve their own disbursements. These disbursements must be approved by the budget manager of their respective department or the President of the Foundation. In the absence of either the budget manager of the unit or the President, an individual may use a budget manager from another unit to approve a request for disbursement. Budget units of the college may develop additional control policies.
  4. The Budget Manager must keep track of funds under their delegation and be responsible to ensure there are sufficient monies to cover disbursements. Requests from funds with insufficient available balances will be returned without processing.
  5. The Executive Committee of the Board of Trustees of the Foundation is the final authority on the disbursement of Foundation funds.

The Foundation Office is available to answer questions on the appropriateness of any expenditure. The Foundation reserves the right to deny any request that is deemed contrary to public scrutiny.

Specific Types of Expenditures

Contracts

The Foundation in general, follows the College policy regarding the engagement of contractors for the provision of goods and services.

The Foundation Chief Administrative Officer has the authority to sign contracts up to $10,000; The Foundation President has the authority to sign contracts up to $250,000. All contracts in excess of $250,000 require Foundation Finance Committee review and approval prior engagement.

Contributions

No Foundation funds may be donated to organizations external to the College except where a nominal contribution is made is lieu of flowers for funeral services or in honor of an individual important to the College.

Dues/membership fees

Dues and fees for institutional memberships in organizations related to college affairs should be paid from state funds when possible. Dues and fees for individual membership in college related or professional organizations should be paid from state funds when possible.

Dues and membership fees for individual membership in civic service or private clubs may be paid from Foundation funds where such memberships are deemed necessary for business purposes. The Foundation President will approve in advance which fees are deemed necessary for business purposes.

Certification fees and fees for licenses to practice a profession related to the college or foundation should be paid with state funds when possible.

Employee incentives/awards

Employee incentives and awards are permitted, as long as they meet legitimate goals for providing employee incentives and are made available in compliance with IRS requirements. Incentive/award activities over $500 per individual, per year must receive prior approval from the Foundation’s Chief Administrative Officer or the Foundation President.

Supplies

Disbursements for supplies should include only those items needed that cannot be paid with state funds.

Travel Using Foundation Funds

  1. Business Purpose and Justification: A Georgia Gwinnett College Prior Travel Approval Form must be completed and approved before the trip begins in order to receive reimbursement for the trip. The Prior Approval Form must contain justification, business purpose, and dates of travel. Upon completion of the trip, the request for travel reimbursements must include a statement of the benefits of the trip to the College and/or the Foundation. The Foundation does not reimburse for first class travel, except in circumstances approved by the President.
  2. When travel is to a foreign country, the conversion rate used to calculate the reimbursement must be included with the request. The calculation should show the date of the transaction, given that there are daily fluctuations in the monetary exchange rates. An acceptable source can be found at http://www.oanda.com /converter/classic.
  3. Requests for reimbursement for travel must comply with IRS regulations. A completed Expense Sheet must be submitted. It is important to judge all expenditures in light of our responsibility to our donors.
  4. Lodging: Lodging includes the cost of the room, applicable taxes, and hotel parking. Any additional costs on a hotel bill, such as meals, will require separate justification. Generally, movies, laundry, mini-bar or hotel amenity expenses are not reimbursed by the Foundation.
  5. Mileage: Mileage will be reimbursed at the Federal per diem rate, currently in effect. Gas expenses in lieu of mileage will be reimbursed only when a state- or Foundation- owned vehicle or rental vehicle is used for the trip.
  6. Meals While on Business Travel: Meals incurred while traveling on business is reimbursable. The Foundation will pay the per diem rates based on Federal Guidelines.
  7. Business Meals Including Guests: Business meals including guests may be reimbursable if College and/or Foundation business is conducted at the meal. The expense report must include names, date and amount.
  8. If meals are reimbursed by the college on a per diem basis and the Foundation pays for the meals, the individual will reimburse the Foundation the per diem received from the College.

Expenditures NOT Normally Approved for Reimbursement

This list is not intended to be all-inclusive, only to provide examples of the most frequently rejected expense reimbursements/payments. The Foundation Office should be contact on instances in which reimbursement is unclear before incurring the expense or service.

  1. First class travel (unless circumstances mandate).
  2. Salary payments (salary payments are transferred to and paid through the College).
  3. Scholarships to a named individual (funds are transferred to the College and payments are made through Student Financial Aid).
  4. College parking decals.
  5. Fines, traffic tickets, parking tickets, impound and/or towing fees.
  6. Salary advances.
  7. Travel advances.
  8. Entertainment not related to college or foundation business.
  9. Credit card application fees.
  10. Furniture, subscriptions, and other related items for home office.
  11. Non-work related magazines or books.
  12. Dry cleaning or Hotel Laundry.
  13. Family, spouse or other individuals’ expenses not employed by the college and not official business of the college - please separate these expenses from receipt before requesting reimbursement.
  14. Campaign contributions to organizations with political affiliations.
  15. Expenses not supported with receipts/invoices and that do not clearly state purpose/benefit for incurring the expense, except as approved by the President of the Foundation or his designee.
  16. Tipping what is beyond customary (beyond 20%)
  17. Expenses incurred during personal emergencies, medications, personal care items.
  18. Other expenses that appear to be “personal perks” with no benefit to the College or the Foundation.

Authority and Responsibilities

The following sets forth the responsibility and authority of the Chief Administrative Officer and President of the Foundation to administer funds of the Foundation and the guidelines for making disbursements.

  1. The Foundation President is ultimately accountable to the Foundation Finance Committee Chair for all disbursements. The Foundation President may delegate to “budget managers” as necessary to disburse funds within their respective divisions and as approved in their respective budgets. In the absence of the delegated budget managers, the appropriate Vice President may approve fund disbursements within their respective budgets.
  2. Any payments over $250,000 must be countersigned by the Foundation Finance Committee Chair. These payments will require a minimum of 15 days to process, except as approved under special circumstances by the President of the Foundation.
  3. Individuals receiving disbursements from Foundation funds may not self-approve their own disbursements. These disbursements must be approved by the budget manager of their respective department or the President of the Foundation. In the absence of either the budget manager of the unit or the President, an individual may use a budget manager from another unit to approve a request for disbursement. Budget units of the college may develop additional control policies.
  4. The Budget Manager must keep track of funds under their delegation and be responsible to ensure there are sufficient monies to cover disbursements. Requests from funds with insufficient available balances will be returned without processing.
  5. The Executive Committee of the Board of Trustees of the Foundation is the final authority on the disbursement of Foundation funds.

The Foundation Office is available to answer questions on the appropriateness of any expenditure. The Foundation reserves the right to deny any request that is deemed contrary to public scrutiny.